Utah Medical Products (NASDAQ:UTMD) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.57 and traded as high as $63.76. Utah Medical Products shares last traded at $62.87, with a volume of 9,669 shares.

Wall Street Analyst Weigh In

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

Utah Medical Products Stock Up 1.4%

The business has a 50-day simple moving average of $63.99 and a two-hundred day simple moving average of $60.57. The stock has a market capitalization of $199.93 million, a price-to-earnings ratio of 18.07 and a beta of 0.35.

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 9.56% and a net margin of 29.30%.The company had revenue of $9.05 million for the quarter.

Utah Medical Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors 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 yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 17th. Utah Medical Products’s payout ratio is presently 35.63%.

Institutional Investors Weigh In On Utah Medical Products

A number of institutional investors and hedge funds have recently bought and sold shares of UTMD. Jane Street Group LLC acquired a new stake in Utah Medical Products in the 1st quarter valued at about $317,000. Geode Capital Management LLC grew its stake in shares of Utah Medical Products by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock worth $6,537,000 after purchasing an additional 7,040 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Utah Medical Products by 10.6% in the 2nd quarter. Rhumbline Advisers now owns 5,716 shares of the medical instruments supplier’s stock worth $325,000 after purchasing an additional 550 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Utah Medical Products by 550.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 2,334 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in Utah Medical Products by 12.0% during the second quarter. Brandes Investment Partners LP now owns 271,322 shares of the medical instruments supplier’s stock valued at $15,444,000 after purchasing an additional 29,073 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

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).