Utah Medical Products (NASDAQ:UTMD) Releases Earnings Results

Utah Medical Products (NASDAQ:UTMD) posted its earnings results on Thursday. The medical instruments supplier reported $0.80 earnings per share for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.89% and a net margin of 30.08%.

Utah Medical Products Trading Down 0.9%

Utah Medical Products stock traded down $0.54 during mid-day trading on Thursday, hitting $60.31. The company had a trading volume of 2,589 shares, compared to its average volume of 13,412. The company’s fifty day moving average is $57.71 and its 200-day moving average is $58.80. Utah Medical Products has a 12-month low of $51.26 and a 12-month high of $64.46. The company has a market capitalization of $192.98 million, a price-to-earnings ratio of 17.04 and a beta of 0.33.

Utah Medical Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Tuesday, December 16th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.31. This represents a $1.24 dividend on an annualized basis and a yield of 2.1%. Utah Medical Products’s dividend payout ratio is presently 35.03%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Utah Medical Products in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Utah Medical Products has an average rating of “Sell”.

Institutional Investors Weigh In On Utah Medical Products

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in Utah Medical Products during the third quarter worth approximately $159,000. Qube Research & Technologies Ltd grew its stake in Utah Medical Products by 7.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 13,488 shares of the medical instruments supplier’s stock valued at $849,000 after acquiring an additional 948 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Utah Medical Products by 61.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 7,327 shares of the medical instruments supplier’s stock worth $461,000 after purchasing an additional 2,798 shares in the last quarter. Comerica Bank lifted its stake in Utah Medical Products by 435.6% in the 3rd quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 440 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Utah Medical Products by 89.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock worth $67,000 after buying an additional 501 shares during the last quarter. 69.60% of the stock is 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).