Utah Medical Products (NASDAQ:UTMD) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Utah Medical Products, Inc. (NASDAQ:UTMD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $59.61 and traded as high as $68.71. Utah Medical Products shares last traded at $67.82, with a volume of 87,162 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Utah Medical Products in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Utah Medical Products Trading Up 1.9%

The firm has a market capitalization of $217.02 million, a price-to-earnings ratio of 19.49 and a beta of 0.34. The firm has a 50 day moving average price of $60.35 and a two-hundred day moving average price of $59.63.

Utah Medical Products (NASDAQ:UTMD) last released its quarterly earnings data on Thursday, January 29th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter. Utah Medical Products had a net margin of 29.30% and a return on equity of 9.60%. The company had revenue of $9.04 million during the quarter.

Utah Medical Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Tuesday, March 17th will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.8%. Utah Medical Products’s dividend payout ratio (DPR) is 35.63%.

Institutional Investors Weigh In On Utah Medical Products

Several hedge funds have recently modified their holdings of UTMD. Brandes Investment Partners LP grew its stake in Utah Medical Products by 12.0% during the 2nd quarter. Brandes Investment Partners LP now owns 271,322 shares of the medical instruments supplier’s stock valued at $15,444,000 after purchasing an additional 29,073 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Utah Medical Products during the 3rd quarter valued at approximately $726,000. Quantinno Capital Management LP acquired a new stake in shares of Utah Medical Products during the second quarter worth approximately $608,000. Geode Capital Management LLC increased its stake in shares of Utah Medical Products by 6.5% in the second 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 during the last quarter. Finally, Minerva Advisors LLC raised its holdings in Utah Medical Products by 7.1% in the second quarter. Minerva Advisors LLC now owns 93,058 shares of the medical instruments supplier’s stock valued at $5,267,000 after acquiring an additional 6,156 shares in the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

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).