Utah Medical Products (NASDAQ:UTMD) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Utah Medical Products (NASDAQ:UTMD) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Shares of UTMD stock traded down $1.08 during trading hours on Thursday, hitting $103.30. 9,200 shares of the company were exchanged, compared to its average volume of 9,373. Utah Medical Products has a fifty-two week low of $76.60 and a fifty-two week high of $112.26. The company has a 50 day simple moving average of $105.79 and a two-hundred day simple moving average of $98.28. The firm has a market cap of $388.41 million, a P/E ratio of 28.13 and a beta of 0.77.

Utah Medical Products (NASDAQ:UTMD) last issued its earnings results on Thursday, October 24th. The medical instruments supplier reported $0.99 earnings per share (EPS) for the quarter. Utah Medical Products had a return on equity of 15.02% and a net margin of 30.70%. The company had revenue of $12.49 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.28 dividend. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, December 12th.

In other Utah Medical Products news, insider Brian Koopman sold 300 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $107.00, for a total transaction of $32,100.00. Following the transaction, the insider now directly owns 607 shares in the company, valued at approximately $64,949. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin L. Cornwell sold 800 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.67, for a total value of $86,136.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,357 shares of company stock worth $359,913. 7.30% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Utah Medical Products by 3.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 8,712 shares of the medical instruments supplier’s stock valued at $834,000 after acquiring an additional 287 shares in the last quarter. Bank of Montreal Can lifted its stake in Utah Medical Products by 312.8% during the 2nd quarter. Bank of Montreal Can now owns 388 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 294 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in Utah Medical Products during the 2nd quarter valued at $29,000. Rice Hall James & Associates LLC lifted its stake in Utah Medical Products by 0.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 78,619 shares of the medical instruments supplier’s stock valued at $7,535,000 after acquiring an additional 566 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Utah Medical Products by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 187,582 shares of the medical instruments supplier’s stock valued at $17,951,000 after acquiring an additional 806 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

About Utah Medical Products

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry in the United States, Europe, and internationally. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD, an infant respiratory hood; and DELTRAN PLUS, a blood pressure monitoring system.

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