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

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

Utah Medical Products Stock Performance

NASDAQ UTMD opened at $60.43 on Friday. The business has a fifty day moving average price of $61.64 and a 200 day moving average price of $57.41. Utah Medical Products has a one year low of $51.26 and a one year high of $68.99. The company has a market cap of $193.98 million, a P/E ratio of 17.07 and a beta of 0.32.

Utah Medical Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th were given a dividend of $0.305 per share. The ex-dividend date was Wednesday, September 17th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.0%. Utah Medical Products’s dividend payout ratio (DPR) is 32.62%.

Institutional Trading of Utah Medical Products

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in Utah Medical Products during the second quarter worth approximately $132,000. Quantinno Capital Management LP purchased a new stake in shares of Utah Medical Products in the second quarter valued at $608,000. Sei Investments Co. purchased a new stake in shares of Utah Medical Products in the second quarter valued at $208,000. Invesco Ltd. lifted its position in Utah Medical Products by 33.8% during the second quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier’s stock worth $282,000 after buying an additional 1,253 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Utah Medical Products by 550.5% during the second quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 2,334 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Utah Medical Products Company Profile

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.