Utah Medical Products (NASDAQ:UTMD) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Utah Medical Products, Inc. (NASDAQ:UTMD)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $66.51 and traded as high as $72.37. Utah Medical Products shares last traded at $72.10, with a volume of 10,733 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Utah Medical Products currently has an average rating of “Hold”.

Utah Medical Products Trading Down 1.5%

The business’s 50 day moving average price is $69.53 and its 200-day moving average price is $66.54. The company has a market cap of $226.06 million, a price-to-earnings ratio of 21.65 and a beta of 0.35.

Utah Medical Products (NASDAQ:UTMD) last announced its quarterly earnings results on Thursday, July 23rd. The medical instruments supplier reported $0.84 EPS for the quarter. The business had revenue of $8.53 million for the quarter. Utah Medical Products had a net margin of 29.04% and a return on equity of 8.74%.

Utah Medical Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 17th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. Utah Medical Products’s dividend payout ratio is presently 37.80%.

Institutional Trading of Utah Medical Products

Several hedge funds have recently added to or reduced their stakes in UTMD. Brandes Investment Partners LP boosted its stake in Utah Medical Products by 4.0% in the 4th quarter. Brandes Investment Partners LP now owns 351,322 shares of the medical instruments supplier’s stock valued at $19,660,000 after purchasing an additional 13,392 shares during the period. BlackRock Inc. bought a new position in Utah Medical Products during the 2nd quarter worth $14,051,000. Dimensional Fund Advisors LP lifted its holdings in shares of Utah Medical Products by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 200,032 shares of the medical instruments supplier’s stock worth $12,596,000 after buying an additional 2,566 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Utah Medical Products by 6.5% during the second quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock worth $6,537,000 after buying an additional 7,040 shares in the last quarter. Finally, Minerva Advisors LLC boosted its position in shares of Utah Medical Products by 0.6% in the fourth quarter. Minerva Advisors LLC now owns 93,615 shares of the medical instruments supplier’s stock valued at $5,239,000 after acquiring an additional 557 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

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).