Utah Medical Products (NASDAQ:UTMD) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Utah Medical Products, Inc. (NASDAQ:UTMD)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $67.97 and traded as low as $66.65. Utah Medical Products shares last traded at $66.80, with a volume of 32,585 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Utah Medical Products Stock Performance

The firm has a market cap of $216.46 million, a P/E ratio of 20.38 and a beta of 0.38. The company has a 50-day moving average of $72.90 and a 200 day moving average of $68.01.

Utah Medical Products (NASDAQ:UTMD) last announced its quarterly earnings results on Thursday, October 22nd. The medical instruments supplier reported $0.88 earnings per share for the quarter. Utah Medical Products had a return on equity of 8.83% and a net margin of 30.48%. The firm had revenue of $8.62 million for the quarter.

Utah Medical Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 17th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Utah Medical Products’s dividend payout ratio is presently 37.13%.

Insider Activity

In other news, CEO Kevin L. Cornwell bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was acquired at an average price of $66.75 per share, for a total transaction of $66,750.00. Following the transaction, the chief executive officer directly owned 189,472 shares of the company’s stock, valued at $12,647,256. This trade represents a 0.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.00% of the stock is owned by company insiders.

Institutional Trading of Utah Medical Products

Several large investors have recently added to or reduced their stakes in the company. State of Wyoming raised its position in Utah Medical Products by 39.1% in the 3rd quarter. State of Wyoming now owns 6,683 shares of the medical instruments supplier’s stock valued at $495,000 after purchasing an additional 1,880 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of Utah Medical Products by 8.7% during the third quarter. Cardinal Capital Management now owns 29,458 shares of the medical instruments supplier’s stock worth $2,190,000 after purchasing an additional 2,364 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Utah Medical Products during the second quarter worth $225,000. Bank of America Corp DE bought a new stake in shares of Utah Medical Products during the second quarter worth $283,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Utah Medical Products in the second quarter valued at $544,000. 69.60% of the stock is owned by institutional investors.

Utah Medical Products Company Profile

Utah Medical Products, Inc (NASDAQ:UTMD) develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women’s health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications.

Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.