Utah Medical Products (NASDAQ:UTMD) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Utah Medical Products, Inc. (NASDAQ:UTMD) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $57.69 and traded as low as $55.65. Utah Medical Products shares last traded at $58.49, with a volume of 10,416 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Utah Medical Products in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Utah Medical Products Trading Up 0.7%

The firm’s 50 day moving average is $61.55 and its two-hundred day moving average is $57.69. The firm has a market cap of $187.52 million, a P/E ratio of 16.52 and a beta of 0.32.

Utah Medical Products (NASDAQ:UTMD) last announced its quarterly earnings results on Thursday, October 23rd. The medical instruments supplier reported $0.82 earnings per share for the quarter. Utah Medical Products had a net margin of 30.08% and a return on equity of 9.90%. The firm had revenue of $9.81 million for the quarter.

Institutional Trading of Utah Medical Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Utah Medical Products by 12.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,119 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 1,421 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Utah Medical Products by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 48,612 shares of the medical instruments supplier’s stock valued at $2,724,000 after purchasing an additional 1,277 shares during the last quarter. Nuveen LLC acquired a new position in shares of Utah Medical Products in the first quarter valued at $449,000. Minerva Advisors LLC increased its holdings in shares of Utah Medical Products by 10.9% in the first quarter. Minerva Advisors LLC now owns 86,902 shares of the medical instruments supplier’s stock valued at $4,870,000 after purchasing an additional 8,513 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Utah Medical Products in the first quarter valued at $370,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

About Utah Medical Products

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry worldwide. It offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD infant respiratory hoods; and DELTRAN PLUS blood pressure monitoring systems.