Utah Medical Products (NASDAQ:UTMD) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Utah Medical Products, Inc. (NASDAQ:UTMD) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $72.95 and traded as high as $73.77. Utah Medical Products shares last traded at $73.03, with a volume of 20,913 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Utah Medical Products Trading Up 0.2%

The stock has a market capitalization of $232.24 million, a P/E ratio of 21.87 and a beta of 0.38. The company has a fifty day simple moving average of $72.95 and a two-hundred day simple moving average of $68.45.

Utah Medical Products (NASDAQ:UTMD) last released its earnings results on Thursday, October 22nd. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter. The company had revenue of $8.62 million for the quarter. Utah Medical Products had a net margin of 30.48% and a return on equity of 8.83%.

Utah Medical Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Thursday, December 17th will be paid a dividend of $0.3150 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Utah Medical Products’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, December 17th. Utah Medical Products’s payout ratio is presently 37.13%.

Insider Buying and Selling at Utah Medical Products

In other Utah Medical Products news, CEO Kevin L. Cornwell acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were acquired at an average cost of $66.75 per share, for a total transaction of $66,750.00. Following the completion of the acquisition, the chief executive officer directly owned 189,472 shares of the company’s stock, valued at approximately $12,647,256. This represents a 0.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Utah Medical Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management grew its holdings in Utah Medical Products by 32.8% during the 3rd quarter. Ritholtz Wealth Management now owns 17,430 shares of the medical instruments supplier’s stock worth $1,291,000 after acquiring an additional 4,306 shares during the period. State of Wyoming raised its position in shares of Utah Medical Products by 39.1% during the 3rd quarter. State of Wyoming now owns 6,683 shares of the medical instruments supplier’s stock valued at $495,000 after acquiring an additional 1,880 shares during the last quarter. Cardinal Capital Management raised its position in shares of Utah Medical Products by 8.7% during the 3rd quarter. Cardinal Capital Management now owns 29,458 shares of the medical instruments supplier’s stock valued at $2,190,000 after acquiring an additional 2,364 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Utah Medical Products in the 2nd quarter valued at $225,000. Finally, Bank of America Corp DE acquired a new position in shares of Utah Medical Products in the 2nd quarter valued at $283,000. 69.60% of the stock is owned by institutional investors.

About Utah Medical Products

Utah Medical Products, Inc. (NASDAQ:UTMD) develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women’s health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications. Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.