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

Utah Medical Products (NASDAQ:UTMD) posted its quarterly earnings data on Thursday. The medical instruments supplier reported $0.80 earnings per share for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.89% and a net margin of 30.08%.

Utah Medical Products Stock Performance

Shares of UTMD stock traded up $0.02 during mid-day trading on Thursday, hitting $60.86. The company’s stock had a trading volume of 685 shares, compared to its average volume of 13,361. The company has a market cap of $194.74 million, a PE ratio of 17.23 and a beta of 0.33. The company’s fifty day simple moving average is $57.71 and its 200-day simple moving average is $58.80. Utah Medical Products has a 52 week low of $51.26 and a 52 week high of $64.46.

Utah Medical Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 16th were given a $0.31 dividend. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. Utah Medical Products’s dividend payout ratio is 35.03%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Utah Medical Products in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Utah Medical Products

A number of hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its stake in Utah Medical Products by 435.6% in the third quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 440 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Utah Medical Products by 89.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock valued at $67,000 after acquiring an additional 501 shares in the last quarter. State of Wyoming bought a new stake in shares of Utah Medical Products in the 2nd quarter valued at $132,000. Advisory Services Network LLC acquired a new position in shares of Utah Medical Products during the 3rd quarter valued at $159,000. Finally, Russell Investments Group Ltd. boosted its stake in Utah Medical Products by 550.5% during 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. 69.60% of the stock is currently owned by institutional investors.

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 (CO?).