Utah Medical Products (NASDAQ:UTMD) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Utah Medical Products, Inc. (NASDAQ:UTMD)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $61.36 and traded as high as $64.27. Utah Medical Products shares last traded at $64.05, with a volume of 11,556 shares.

Analyst Upgrades and Downgrades

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

Utah Medical Products Stock Down 0.6%

The stock’s fifty day moving average price is $65.09 and its two-hundred day moving average price is $61.40. The company has a market capitalization of $201.42 million, a PE ratio of 18.74 and a beta of 0.37.

Utah Medical Products (NASDAQ:UTMD) last posted its earnings results on Thursday, April 23rd. The medical instruments supplier reported $0.82 earnings per share for the quarter. The company had revenue of $8.72 million during the quarter. Utah Medical Products had a net margin of 28.90% and a return on equity of 9.13%.

Utah Medical Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Wednesday, June 17th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.24 annualized dividend and a yield of 2.0%. Utah Medical Products’s dividend payout ratio (DPR) is 36.69%.

Institutional Trading of Utah Medical Products

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in 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 during the period. Fifth Third Bancorp purchased a new stake in Utah Medical Products in the first quarter worth about $43,000. BNP Paribas Financial Markets lifted its holdings in 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 during the period. CWM LLC lifted its holdings in Utah Medical Products by 60.4% in the third quarter. CWM LLC now owns 1,330 shares of the medical instruments supplier’s stock worth $84,000 after buying an additional 501 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings 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 buying an additional 1,309 shares during the period. 69.60% of the stock is currently owned by hedge funds and other 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 (CO₂).