Utah Medical Products, Inc. (NASDAQ:UTMD) Short Interest Up 33.4% in June

Utah Medical Products, Inc. (NASDAQ:UTMD) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 107,000 shares, an increase of 33.4% from the May 30th total of 80,200 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 21,500 shares, the days-to-cover ratio is presently 5.0 days.

Several hedge funds have recently modified their holdings of the company. Cardinal Capital Management lifted its holdings in shares of Utah Medical Products by 1.2% in the 1st quarter. Cardinal Capital Management now owns 10,163 shares of the medical instruments supplier’s stock valued at $896,000 after buying an additional 123 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Utah Medical Products by 12.9% in the 4th quarter. New York State Common Retirement Fund now owns 4,517 shares of the medical instruments supplier’s stock valued at $375,000 after buying an additional 517 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Utah Medical Products by 428.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 719 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 583 shares during the period. Bank of America Corp DE lifted its holdings in shares of Utah Medical Products by 132.2% in the 4th quarter. Bank of America Corp DE now owns 2,190 shares of the medical instruments supplier’s stock valued at $182,000 after buying an additional 1,247 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Utah Medical Products by 605.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 1,537 shares of the medical instruments supplier’s stock valued at $128,000 after buying an additional 1,319 shares during the period. 73.63% of the stock is owned by institutional investors and hedge funds.

Shares of UTMD stock traded up $0.56 on Friday, hitting $86.36. The company had a trading volume of 14,046 shares, compared to its average volume of 25,712. The stock has a market capitalization of $321.49 million, a price-to-earnings ratio of 22.26 and a beta of 0.83. The company’s 50-day simple moving average is $83.98. Utah Medical Products has a twelve month low of $73.98 and a twelve month high of $107.35.

Utah Medical Products (NASDAQ:UTMD) last issued its quarterly earnings data on Thursday, April 25th. The medical instruments supplier reported $0.84 earnings per share (EPS) for the quarter. The business had revenue of $10.73 million during the quarter. Utah Medical Products had a return on equity of 16.47% and a net margin of 42.07%.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 1.27%.

Separately, BidaskClub downgraded Utah Medical Products from a “hold” rating to a “sell” rating in a research note on Monday, July 8th.

Utah Medical Products Company Profile

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry in the United States, Europe, and internationally. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD, an infant respiratory hood; and DELTRAN PLUS, a blood pressure monitoring system.

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