Prudential Financial Inc. Takes Position in Utah Medical Products, Inc. (UTMD)
Prudential Financial Inc. bought a new stake in Utah Medical Products, Inc. (NASDAQ:UTMD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,220 shares of the medical instruments supplier’s stock, valued at approximately $233,000. Prudential Financial Inc. owned approximately 0.09% of Utah Medical Products at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of UTMD. Russell Investments Group Ltd. grew its stake in Utah Medical Products by 19.1% in the second quarter. Russell Investments Group Ltd. now owns 47,619 shares of the medical instruments supplier’s stock valued at $3,448,000 after purchasing an additional 7,649 shares in the last quarter. Spark Investment Management LLC purchased a new position in Utah Medical Products in the second quarter valued at about $325,000. Everett Harris & Co. CA purchased a new position in Utah Medical Products in the second quarter valued at about $210,000. Bessemer Group Inc. grew its stake in Utah Medical Products by 39.4% in the second quarter. Bessemer Group Inc. now owns 4,600 shares of the medical instruments supplier’s stock valued at $333,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Cardinal Capital Management grew its stake in Utah Medical Products by 15.5% in the second quarter. Cardinal Capital Management now owns 9,180 shares of the medical instruments supplier’s stock valued at $665,000 after purchasing an additional 1,235 shares in the last quarter. Hedge funds and other institutional investors own 66.77% of the company’s stock.
Shares of Utah Medical Products, Inc. (NASDAQ UTMD) opened at 75.30 on Friday. Utah Medical Products, Inc. has a 1-year low of $56.30 and a 1-year high of $77.63. The stock’s 50 day moving average price is $73.85 and its 200 day moving average price is $69.21. The company has a market cap of $280.04 million, a P/E ratio of 21.59 and a beta of 0.75.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Thursday, September 14th. Utah Medical Products’s dividend payout ratio is currently 30.37%.
Separately, BidaskClub downgraded Utah Medical Products from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th.
Utah Medical Products Company Profile
Utah Medical Products, Inc (UTMD) is engaged in the business of producing medical devices that are disposable and for hospital use. The Company’s product categories include labor and delivery/obstetrics, including fetal monitoring accessories, Vacuum-Assisted Delivery Systems (VAD), and other labor and delivery tools; neonatal intensive care, including DISPOSA-HOOD, DELTRAN PLUS and GESCO; gynecology/urology/electrosurgery, including LETZ System, FINESSE+ Generator, EPITOME, PATHFINDER PLUS, HOLMIUM LASER FIBRES, LIBERTY System, ENDOCURETTE, TVUS/HSG-Cath and LUMIN, and blood pressure monitoring, including DELTRAN Disposable Pressure Transducer (DPT), and pressure monitoring accessories, components and other molded parts.
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