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

Utah Medical Products (NASDAQ:UTMD) issued 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 return on equity of 9.56% and a net margin of 29.30%.

Utah Medical Products Stock Performance

Shares of NASDAQ:UTMD opened at $67.87 on Friday. The firm has a market cap of $215.83 million, a P/E ratio of 19.50 and a beta of 0.35. Utah Medical Products has a 52-week low of $51.26 and a 52-week high of $71.81. The business’s 50 day simple moving average is $65.43 and its two-hundred day simple moving average is $61.02.

Utah Medical Products Dividend Announcement

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

Institutional Trading of Utah Medical Products

Several institutional investors and hedge funds have recently modified their holdings of UTMD. Jane Street Group LLC purchased a new stake in shares of Utah Medical Products during the first quarter valued at approximately $317,000. Geode Capital Management LLC increased its position in shares of Utah Medical Products by 6.5% during the second quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock valued at $6,537,000 after acquiring an additional 7,040 shares during the last quarter. Rhumbline Advisers increased its position in shares of Utah Medical Products by 10.6% during the second quarter. Rhumbline Advisers now owns 5,716 shares of the medical instruments supplier’s stock valued at $325,000 after acquiring an additional 550 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 valued at $157,000 after acquiring an additional 2,334 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Utah Medical Products by 33.8% during the second quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier’s stock valued at $282,000 after acquiring an additional 1,253 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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