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Sunday, 03/19/2023 11:52:35 AM

Sunday, March 19, 2023 11:52:35 AM

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UFP Technologies (UFPT) - >>> Don’t sleep on medical device maker UFP Technologies. The Newburyport, Massachusetts company has been around since 1963 and UFPT stock has been a long-term gainer. In fact, as portfolio manager Eddy Elfenbein notes, the share price has increased 150-fold over the past two decades. “That’s enough to turn $7,000 into over $1 million,” Elfenbein writes.

The company operates in a niche market for medical devices and its strong position in that market is reflected in its earnings. In the third quarter of 2022, UFP’s sales grew 91% year over year, while organic sales rose 21.7% and operating income swelled by 37%. Earnings per share rose 173% to $1.36, trouncing analyst estimates of 94 cents a share. The company is expected to report Q4 and full-year results in early March.

Stellar earnings have propelled UFPT stock higher both in the short and long term. Despite a 7% year-to-date decline over the past 12 months, the share price has risen 51%. Over the past five years, the stock is up nearly 283%.

UFP Technologies doesn’t offer a dividend, but its current price-earnings ratio of 23 looks fair given the company’s consistent earnings growth and its share price appreciation.



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