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

Utah Medical Products (NASDAQ:UTMD) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $0.82 earnings per share for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.56% and a net margin of 29.30%.

Utah Medical Products Stock Performance

NASDAQ:UTMD traded up $1.06 during mid-day trading on Thursday, hitting $70.69. The stock had a trading volume of 1,071 shares, compared to its average volume of 14,519. Utah Medical Products has a twelve month low of $51.26 and a twelve month high of $71.81. The stock has a market cap of $225.13 million, a price-to-earnings ratio of 20.31 and a beta of 0.35. The company’s 50 day simple moving average is $65.35 and its 200 day simple moving average is $60.98.

Utah Medical Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Tuesday, March 17th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, March 17th. Utah Medical Products’s dividend payout ratio (DPR) is 35.63%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Utah Medical Products from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UTMD. Barclays PLC lifted its holdings in Utah Medical Products by 19.3% during the 4th quarter. Barclays PLC now owns 5,619 shares of the medical instruments supplier’s stock valued at $314,000 after purchasing an additional 908 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Utah Medical Products by 10.6% in the second quarter. Rhumbline Advisers now owns 5,716 shares of the medical instruments supplier’s stock valued at $325,000 after purchasing an additional 550 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Utah Medical Products by 6.5% in 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 purchasing an additional 7,040 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Utah Medical Products by 2.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,903 shares of the medical instruments supplier’s stock valued at $834,000 after purchasing an additional 337 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Utah Medical Products by 114.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,033 shares of the medical instruments supplier’s stock worth $617,000 after buying an additional 5,900 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Utah Medical Products Company Profile

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).