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

Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $66.51 and traded as high as $67.21. Utah Medical Products shares last traded at $66.14, with a volume of 9,729 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Utah Medical Products in a research note on Friday, May 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Utah Medical Products has an average rating of “Hold”.

Utah Medical Products Stock Up 1.9%

The stock has a market capitalization of $211.37 million, a PE ratio of 19.67 and a beta of 0.37. The firm has a 50 day moving average price of $66.48 and a 200-day moving average price of $63.42.

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

Utah Medical Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Wednesday, June 17th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, June 17th. Utah Medical Products’s dividend payout ratio is 36.69%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brandes Investment Partners LP boosted its holdings in Utah Medical Products by 4.0% in the fourth quarter. Brandes Investment Partners LP now owns 351,322 shares of the medical instruments supplier’s stock valued at $19,660,000 after purchasing an additional 13,392 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Utah Medical Products by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 200,032 shares of the medical instruments supplier’s stock worth $12,596,000 after purchasing an additional 2,566 shares during the period. Geode Capital Management LLC raised its stake in shares of Utah Medical Products by 6.5% during the 2nd quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock valued at $6,537,000 after buying an additional 7,040 shares during the last quarter. Minerva Advisors LLC raised its stake in shares of Utah Medical Products by 0.6% during the 4th quarter. Minerva Advisors LLC now owns 93,615 shares of the medical instruments supplier’s stock valued at $5,239,000 after buying an additional 557 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Utah Medical Products by 5.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 67,882 shares of the medical instruments supplier’s stock valued at $4,208,000 after buying an additional 3,484 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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).