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

Utah Medical Products, Inc. (NASDAQ:UTMD) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $57.90 and traded as high as $58.15. Utah Medical Products shares last traded at $57.21, with a volume of 9,381 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Utah Medical Products in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Utah Medical Products Trading Down 0.1%

The stock has a market cap of $183.42 million, a PE ratio of 16.16 and a beta of 0.33. The business has a 50 day moving average of $61.08 and a 200-day moving average of $57.90.

Utah Medical Products (NASDAQ:UTMD) last released its quarterly earnings results on Thursday, October 23rd. The medical instruments supplier reported $0.82 EPS for the quarter. The firm had revenue of $9.81 million during the quarter. Utah Medical Products had a net margin of 30.08% and a return on equity of 9.90%.

Utah Medical Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Tuesday, December 16th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This is a positive change from Utah Medical Products’s previous quarterly dividend of $0.31. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.2%. Utah Medical Products’s dividend payout ratio is currently 35.03%.

Hedge Funds Weigh In On Utah Medical Products

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in Utah Medical Products by 159.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 587 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 361 shares during the period. CWM LLC increased its holdings in shares of Utah Medical Products by 287.4% in the second quarter. CWM LLC now owns 829 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 615 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Utah Medical Products by 156.9% during the first quarter. PNC Financial Services Group Inc. now owns 894 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 546 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Utah Medical Products by 3,272.5% during the third quarter. Cornerstone Planning Group LLC now owns 1,349 shares of the medical instruments supplier’s stock worth $85,000 after purchasing an additional 1,309 shares during the period. Finally, State of Wyoming purchased a new position in Utah Medical Products in the 2nd quarter valued at $132,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Utah Medical Products

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.