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

Utah Medical Products (NASDAQ:UTMD) released its earnings results on Thursday. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter, Zacks reports. Utah Medical Products had a net margin of 28.90% and a return on equity of 9.17%. The business had revenue of $8.72 million for the quarter.

Utah Medical Products Stock Down 1.0%

Utah Medical Products stock opened at $67.17 on Friday. Utah Medical Products has a 52-week low of $51.26 and a 52-week high of $71.81. The firm has a fifty day moving average of $65.49 and a 200-day moving average of $61.06. The firm has a market capitalization of $213.60 million, a P/E ratio of 19.87 and a beta of 0.35.

Utah Medical Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Tuesday, March 17th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Utah Medical Products’s dividend payout ratio is presently 35.63%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Utah Medical Products from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Utah Medical Products

Several large investors have recently made changes to their positions in UTMD. Comerica Bank increased its position in shares of Utah Medical Products by 435.6% in the third quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock worth $34,000 after acquiring an additional 440 shares in the last quarter. BNP Paribas Financial Markets increased 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 worth $67,000 after acquiring an additional 501 shares in the last quarter. State of Wyoming acquired a new stake in shares of Utah Medical Products in the second quarter worth $132,000. Russell Investments Group Ltd. increased its position in shares of Utah Medical Products by 550.5% in the second quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after acquiring an additional 2,334 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Utah Medical Products in the third quarter worth $159,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

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).