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

Utah Medical Products (NASDAQ:UTMD) released its quarterly earnings data on Thursday. The medical instruments supplier reported $0.84 EPS for the quarter, Zacks reports. The firm had revenue of $8.53 million during the quarter. Utah Medical Products had a net margin of 29.04% and a return on equity of 8.79%.

Utah Medical Products Trading Up 4.6%

Utah Medical Products stock opened at $67.14 on Friday. The company has a market capitalization of $213.77 million, a PE ratio of 20.47 and a beta of 0.36. The stock has a 50-day moving average price of $67.88 and a two-hundred day moving average price of $65.37. Utah Medical Products has a 12 month low of $53.66 and a 12 month high of $75.75.

Utah Medical Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Wednesday, June 17th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Utah Medical Products’s dividend payout ratio (DPR) is 37.80%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Utah Medical Products in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Utah Medical Products

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in Utah Medical Products during the 1st quarter worth about $317,000. Geode Capital Management LLC boosted its position in 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 grew its holdings in Utah Medical Products by 10.6% during the 2nd quarter. Rhumbline Advisers now owns 5,716 shares of the medical instruments supplier’s stock worth $325,000 after acquiring an additional 550 shares during the period. Russell Investments Group Ltd. grew its holdings in Utah Medical Products by 550.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after acquiring an additional 2,334 shares during the period. Finally, Invesco Ltd. raised its position in shares of Utah Medical Products by 33.8% in the 2nd quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier’s stock worth $282,000 after acquiring an additional 1,253 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

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).