Utah Medical Products (NASDAQ:UTMD) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Utah Medical Products, Inc. (NASDAQ:UTMD) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.44 and traded as high as $64.38. Utah Medical Products shares last traded at $64.00, with a volume of 9,837 shares.

Analysts Set New Price Targets

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

Utah Medical Products Stock Performance

The stock has a market cap of $206.08 million, a P/E ratio of 18.51 and a beta of 0.33. The stock has a 50-day moving average price of $63.34 and a 200-day moving average price of $60.48.

Utah Medical Products (NASDAQ:UTMD) last issued its quarterly earnings results on Thursday, January 29th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter. Utah Medical Products had a return on equity of 9.60% and a net margin of 29.30%.The firm had revenue of $9.04 million during the quarter.

Utah Medical Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, March 17th. Utah Medical Products’s dividend payout ratio is currently 35.63%.

Institutional Investors Weigh In On Utah Medical Products

Several hedge funds have recently made changes to their positions in UTMD. Comerica Bank lifted its stake in shares of Utah Medical Products by 435.6% in the third 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 lifted its holdings 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 buying an additional 501 shares in the last quarter. CWM LLC lifted its stake in Utah Medical Products by 60.4% in the 3rd quarter. CWM LLC now owns 1,330 shares of the medical instruments supplier’s stock worth $84,000 after purchasing an additional 501 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Utah Medical Products by 3,272.5% in the third quarter. Cornerstone Planning Group LLC now owns 1,349 shares of the medical instruments supplier’s stock worth $85,000 after purchasing an additional 1,309 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Utah Medical Products in the 2nd quarter valued at approximately $132,000. 69.60% of the stock is currently owned by 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 (CO₂).