Utah Medical Products (NASDAQ:UTMD) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Utah Medical Products, Inc. (NASDAQ:UTMD)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.57 and traded as high as $63.76. Utah Medical Products shares last traded at $62.87, with a volume of 9,669 shares traded.

Wall Street Analysts Forecast Growth

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

Utah Medical Products Price Performance

The stock has a market cap of $200.72 million, a price-to-earnings ratio of 18.14 and a beta of 0.35. The business’s 50 day moving average is $64.01 and its 200 day moving average is $60.59.

Utah Medical Products (NASDAQ:UTMD) last posted its quarterly earnings results on Thursday, January 29th. The medical instruments supplier reported $0.80 earnings per share for the quarter. The company had revenue of $9.05 million for the quarter. Utah Medical Products had a return on equity of 9.56% and a net margin of 29.30%.

Utah Medical Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Tuesday, March 17th will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.24 annualized dividend and a yield of 2.0%. Utah Medical Products’s payout ratio is presently 35.63%.

Hedge Funds Weigh In On Utah Medical Products

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in Utah Medical Products by 435.6% during the third quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 440 shares in the last quarter. BNP Paribas Financial Markets grew its position 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 buying an additional 501 shares during the last quarter. CWM LLC raised its stake in Utah Medical Products by 60.4% during the 3rd quarter. CWM LLC now owns 1,330 shares of the medical instruments supplier’s stock worth $84,000 after acquiring an additional 501 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Utah Medical Products by 3,272.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,349 shares of the medical instruments supplier’s stock worth $85,000 after acquiring an additional 1,309 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Utah Medical Products in the second quarter valued at $132,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

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 (CO?).