Utah Medical Products (NASDAQ:UTMD) Posts Earnings Results

Utah Medical Products (NASDAQ:UTMD) issued its quarterly earnings data on Thursday. The medical instruments supplier reported $0.80 earnings per share for the quarter, Zacks reports. The company had revenue of $9.04 million during the quarter. Utah Medical Products had a return on equity of 9.60% and a net margin of 29.30%.

Utah Medical Products Trading Down 1.0%

Shares of NASDAQ:UTMD traded down $0.59 on Friday, reaching $61.06. 17,336 shares of the company were exchanged, compared to its average volume of 13,305. Utah Medical Products has a 1-year low of $51.26 and a 1-year high of $64.46. The company has a 50-day moving average of $57.99 and a 200-day moving average of $58.85. The firm has a market cap of $195.39 million, a price-to-earnings ratio of 17.55 and a beta of 0.33.

Utah Medical Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Tuesday, December 16th were issued a dividend of $0.31 per share. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.31. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, December 16th. Utah Medical Products’s dividend payout ratio is currently 35.63%.

Institutional Trading of Utah Medical Products

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank grew its holdings in Utah Medical Products by 435.6% in the 3rd quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock worth $34,000 after buying an additional 440 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Utah Medical Products by 89.6% in the third quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock worth $67,000 after purchasing an additional 501 shares in the last quarter. State of Wyoming acquired a new position in shares of Utah Medical Products during the second quarter valued at $132,000. Advisory Services Network LLC bought a new stake in shares of Utah Medical Products during the third quarter valued at about $159,000. Finally, Russell Investments Group Ltd. lifted its holdings in Utah Medical Products by 550.5% in the second quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 2,334 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Utah Medical Products in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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 (CO₂).