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

Utah Medical Products (NASDAQ:UTMD) issued its quarterly earnings results on Thursday. The medical instruments supplier reported $0.84 EPS for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.13% and a net margin of 28.90%.

Utah Medical Products Price Performance

Shares of UTMD traded down $4.18 during mid-day trading on Thursday, hitting $65.01. The company’s stock had a trading volume of 29,602 shares, compared to its average volume of 14,497. The firm has a 50-day moving average price of $67.79 and a 200 day moving average price of $65.30. Utah Medical Products has a fifty-two week low of $53.66 and a fifty-two week high of $75.75. The stock has a market capitalization of $206.73 million, a price-to-earnings ratio of 19.11 and a beta of 0.36.

Utah Medical Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 17th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. Utah Medical Products’s payout ratio is currently 36.69%.

Institutional Investors Weigh In On Utah Medical Products

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Utah Medical Products by 19.3% during the fourth quarter. Barclays PLC now owns 5,619 shares of the medical instruments supplier’s stock valued at $314,000 after acquiring an additional 908 shares during the period. Wells Fargo & Company MN raised its stake in Utah Medical Products by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,125 shares of the medical instruments supplier’s stock valued at $231,000 after purchasing an additional 1,779 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Utah Medical Products by 47.1% in the third quarter. Russell Investments Group Ltd. now owns 4,057 shares of the medical instruments supplier’s stock valued at $255,000 after purchasing an additional 1,299 shares in the last quarter. Sei Investments Co. acquired a new position in Utah Medical Products during the second quarter valued at $208,000. Finally, Invesco Ltd. lifted its stake in Utah Medical Products by 33.8% in the 2nd quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier’s stock worth $282,000 after acquiring an additional 1,253 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Utah Medical Products in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

About Utah Medical Products

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).