Utah Medical Products (NASDAQ:UTMD) Issues Quarterly Earnings Results

Utah Medical Products (NASDAQ:UTMD) posted its earnings results on Thursday. The medical instruments supplier reported $0.82 earnings per share for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.56% and a net margin of 29.30%.

Utah Medical Products Price Performance

NASDAQ:UTMD traded up $1.06 during trading hours on Thursday, reaching $70.69. 1,071 shares of the stock were exchanged, compared to its average volume of 14,519. The stock has a market cap of $225.13 million, a PE ratio of 20.31 and a beta of 0.35. Utah Medical Products has a twelve month low of $51.26 and a twelve month high of $71.81. The firm has a 50 day moving average of $65.35 and a 200 day moving average of $60.98.

Utah Medical Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Tuesday, March 17th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Utah Medical Products’s dividend payout ratio is 35.63%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Utah Medical Products from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Trading of Utah Medical Products

A number of institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP bought a new position in Utah Medical Products in the second quarter valued at $608,000. Geode Capital Management LLC lifted its position in Utah Medical Products by 6.5% during the 2nd quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock worth $6,537,000 after buying an additional 7,040 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Utah Medical Products by 114.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,033 shares of the medical instruments supplier’s stock worth $617,000 after buying an additional 5,900 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Utah Medical Products during the 1st quarter worth about $317,000. Finally, Sei Investments Co. bought a new position in shares of Utah Medical Products in the 2nd quarter valued at about $208,000. Institutional investors own 69.60% of the company’s stock.

Utah Medical Products Company Profile

Utah Medical Products, Inc (NASDAQ: UTMD), headquartered in Midvale, Utah, is a designer, manufacturer and marketer of single‐use medical devices focusing principally on respiratory therapy and patient monitoring applications. Since its founding in the late 1970s, the company has built a reputation for innovation in airway management and non‐invasive monitoring products used in acute and long‐term care settings.

The company’s core product portfolio includes tracheostomy tubes and related accessories, endotracheal tube holders, disposable catheters and sensors for measuring end‐tidal carbon dioxide (CO₂).