Utah Medical Products (NASDAQ:UTMD) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Utah Medical Products, Inc. (NASDAQ:UTMD) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $67.97 and traded as low as $66.65. Utah Medical Products shares last traded at $66.80, with a volume of 32,585 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Utah Medical Products Stock Down 3.0%

The stock has a market capitalization of $212.42 million, a price-to-earnings ratio of 20.00 and a beta of 0.38. The company’s 50-day simple moving average is $72.97 and its 200 day simple moving average is $67.97.

Utah Medical Products (NASDAQ:UTMD) last posted its earnings results on Thursday, October 22nd. The medical instruments supplier reported $0.88 earnings per share for the quarter. Utah Medical Products had a return on equity of 8.83% and a net margin of 30.48%. The company had revenue of $8.62 million for the quarter.

Utah Medical Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 17th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. Utah Medical Products’s dividend payout ratio is presently 37.13%.

Insider Transactions at Utah Medical Products

In related news, CEO Kevin L. Cornwell purchased 1,000 shares of the stock in a transaction on Thursday, October 29th. The shares were bought at an average price of $66.75 per share, for a total transaction of $66,750.00. Following the completion of the acquisition, the chief executive officer directly owned 189,472 shares in the company, valued at approximately $12,647,256. This trade represents a 0.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.00% of the stock is owned by insiders.

Institutional Trading of Utah Medical Products

Several large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Utah Medical Products in the 2nd quarter worth $14,051,000. Rice Hall James & Associates LLC acquired a new position in Utah Medical Products during the 2nd quarter worth $4,923,000. Bank of New York Mellon Corp acquired a new position in Utah Medical Products during the 2nd quarter worth $2,363,000. Bard Associates Inc. bought a new stake in Utah Medical Products during the second quarter valued at about $1,279,000. Finally, Sanctuary Advisors LLC bought a new stake in Utah Medical Products during the second quarter valued at about $544,000. 69.60% of the stock is owned by institutional investors.

Utah Medical Products Company Profile

Utah Medical Products, Inc (NASDAQ:UTMD) develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women’s health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications.

Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.