Utah Medical Products (NASDAQ:UTMD) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $72.95 and traded as high as $73.77. Utah Medical Products shares last traded at $73.03, with a volume of 20,913 shares trading hands.

Wall Street Analysts Forecast Growth

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

Utah Medical Products Trading Down 2.3%

The firm has a fifty day moving average of $73.02 and a 200 day moving average of $68.55. The company has a market capitalization of $228.86 million, a P/E ratio of 22.05 and a beta of 0.38.

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

Utah Medical Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Thursday, December 17th will be given a dividend of $0.3150 per share. This represents a $1.26 annualized dividend and a yield of 1.8%. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, December 17th. Utah Medical Products’s dividend payout ratio (DPR) is presently 37.13%.

Insider Transactions at Utah Medical Products

In related news, CEO Kevin L. Cornwell purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was acquired at an average price of $66.75 per share, with a total value of $66,750.00. Following the completion of the acquisition, the chief executive officer owned 189,472 shares of the company’s stock, valued at approximately $12,647,256. This trade represents a 0.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Utah Medical Products

A number of hedge funds and other institutional investors have recently bought and sold shares of UTMD. Empowered Funds LLC increased its holdings in Utah Medical Products by 107.4% in the 3rd quarter. Empowered Funds LLC now owns 6,769 shares of the medical instruments supplier’s stock worth $501,000 after acquiring an additional 3,505 shares in the last quarter. Ritholtz Wealth Management raised its stake in Utah Medical Products by 32.8% during the 3rd quarter. Ritholtz Wealth Management now owns 17,430 shares of the medical instruments supplier’s stock worth $1,291,000 after acquiring an additional 4,306 shares during the period. State of Wyoming raised its stake in Utah Medical Products by 39.1% during the 3rd quarter. State of Wyoming now owns 6,683 shares of the medical instruments supplier’s stock worth $495,000 after acquiring an additional 1,880 shares during the period. Cardinal Capital Management lifted its holdings in 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 valued at $2,190,000 after purchasing an additional 2,364 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Utah Medical Products during the second quarter valued at approximately $283,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Utah Medical Products

Utah Medical Products, Inc. develops, manufactures and markets medical devices, with a focus on disposable products used in obstetrics, gynecology and neonatal care. Its offerings include devices and accessories for fetal monitoring, labor and delivery, newborn care and related clinical procedures. Founded in 1978 and headquartered in Midvale, Utah, the company also serves other areas of healthcare, including surgery and emergency care. Its products reach customers in the United States and international markets through a combination of direct sales and distribution channels.