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

Utah Medical Products, Inc. (NASDAQ:UTMD)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.86 and traded as high as $71.81. Utah Medical Products shares last traded at $70.65, with a volume of 21,879 shares changing hands.

Wall Street Analysts Forecast Growth

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

Utah Medical Products Stock Up 1.6%

The stock has a market cap of $224.67 million, a PE ratio of 20.30 and a beta of 0.35. The firm has a 50 day moving average price of $64.99 and a 200 day moving average price of $60.86.

Utah Medical Products (NASDAQ:UTMD) last announced its quarterly earnings results on Thursday, January 29th. The medical instruments supplier reported $0.80 EPS for the quarter. The firm had revenue of $9.05 million for the quarter. Utah Medical Products had a return on equity of 9.56% and a net margin of 29.30%.

Utah Medical Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Tuesday, March 17th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 17th. Utah Medical Products’s payout ratio is currently 35.63%.

Institutional Investors Weigh In On Utah Medical Products

A number of large investors have recently modified their holdings of UTMD. Segall Bryant & Hamill LLC purchased a new stake in shares of Utah Medical Products during the third quarter valued at $726,000. Everett Harris & Co. CA boosted its stake in shares of Utah Medical Products by 24.1% during the 4th quarter. Everett Harris & Co. CA now owns 21,344 shares of the medical instruments supplier’s stock worth $1,194,000 after acquiring an additional 4,151 shares in the last quarter. LSV Asset Management lifted its position in shares of Utah Medical Products by 3.9% during the 4th quarter. LSV Asset Management now owns 13,474 shares of the medical instruments supplier’s stock valued at $754,000 after buying an additional 500 shares in the last quarter. Minerva Advisors LLC lifted its stake in Utah Medical Products by 0.6% in 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 in the last quarter. Finally, Cardinal Capital Management lifted its stake in Utah Medical Products by 1.9% in the 4th quarter. Cardinal Capital Management now owns 24,836 shares of the medical instruments supplier’s stock valued at $1,394,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Utah Medical Products

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).