Utah Medical Products (NASDAQ:UTMD) Announces Earnings Results

Utah Medical Products (NASDAQ:UTMD) announced its quarterly earnings data on Thursday. The medical instruments supplier reported $0.84 earnings per share for the quarter, Zacks reports. Utah Medical Products had a net margin of 28.90% and a return on equity of 9.13%. The business had revenue of $8.53 million for the quarter.

Utah Medical Products Trading Down 7.2%

UTMD stock opened at $64.18 on Friday. The stock’s 50 day simple moving average is $67.80 and its 200 day simple moving average is $65.36. Utah Medical Products has a 12-month low of $53.66 and a 12-month high of $75.75. The stock has a market capitalization of $204.09 million, a PE ratio of 18.99 and a beta of 0.36.

Utah Medical Products Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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.com, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of UTMD. Invesco Ltd. lifted its holdings in shares of Utah Medical Products by 4.2% during the fourth quarter. Invesco Ltd. now owns 6,020 shares of the medical instruments supplier’s stock valued at $337,000 after purchasing an additional 243 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Utah Medical Products by 6.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,805 shares of the medical instruments supplier’s stock worth $437,000 after buying an additional 478 shares in the last quarter. Osaic Holdings Inc. raised its position in Utah Medical Products by 8.9% in the 4th quarter. Osaic Holdings Inc. now owns 9,006 shares of the medical instruments supplier’s stock worth $504,000 after buying an additional 739 shares during the last quarter. &PARTNERS raised its position in Utah Medical Products by 11.6% in the 4th quarter. &PARTNERS now owns 3,796 shares of the medical instruments supplier’s stock worth $212,000 after buying an additional 396 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Utah Medical Products by 8.8% during the 4th quarter. Royal Bank of Canada now owns 7,100 shares of the medical instruments supplier’s stock valued at $398,000 after acquiring an additional 575 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).