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

Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $65.75 and traded as high as $72.04. Utah Medical Products shares last traded at $69.57, with a volume of 29,634 shares trading hands.

Wall Street Analysts Forecast Growth

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

Utah Medical Products Trading Down 1.9%

The company has a market cap of $221.51 million, a price-to-earnings ratio of 21.21 and a beta of 0.36. The company’s 50 day moving average price is $68.34 and its 200 day moving average price is $65.75.

Utah Medical Products (NASDAQ:UTMD) last released its earnings results on Thursday, July 23rd. The medical instruments supplier reported $0.84 earnings per share (EPS) for the quarter. Utah Medical Products had a return on equity of 8.79% and a net margin of 29.04%.The company had revenue of $8.53 million for the quarter.

Utah Medical Products Dividend Announcement

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

Hedge Funds Weigh In On Utah Medical Products

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank increased its holdings in Utah Medical Products by 435.6% during the 3rd quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock valued at $34,000 after acquiring an additional 440 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Utah Medical Products in the first quarter valued at about $43,000. BNP Paribas Financial Markets grew its position in shares of Utah Medical Products by 89.6% in the third quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 501 shares during the last quarter. State of Wyoming purchased a new position in shares of Utah Medical Products during the 2nd quarter worth approximately $132,000. Finally, Russell Investments Group Ltd. increased its stake in shares of 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 purchasing an additional 2,334 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).