Utah Medical Products (NASDAQ:UTMD) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $60.53 and traded as high as $65.56. Utah Medical Products shares last traded at $63.80, with a volume of 12,991 shares changing hands.

Analysts Set New Price Targets

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

Utah Medical Products Trading Down 2.0%

The stock’s 50-day simple moving average is $63.75 and its 200-day simple moving average is $60.53. The stock has a market cap of $204.16 million, a price-to-earnings ratio of 18.33 and a beta of 0.33.

Utah Medical Products (NASDAQ:UTMD) last released its quarterly earnings results on Thursday, January 29th. The medical instruments supplier reported $0.80 earnings per share for the quarter. The company had revenue of $9.04 million during the quarter. Utah Medical Products had a net margin of 29.30% and a return on equity of 9.60%.

Utah Medical Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, March 17th. Utah Medical Products’s dividend payout ratio (DPR) is 35.63%.

Institutional Trading of Utah Medical Products

A number of institutional investors have recently modified their holdings of the stock. Comerica Bank grew its holdings in shares of Utah Medical Products by 435.6% during the 3rd quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 440 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Utah Medical Products by 89.6% in the third quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 501 shares in the last quarter. CWM LLC lifted its position in Utah Medical Products by 60.4% during the third quarter. CWM LLC now owns 1,330 shares of the medical instruments supplier’s stock worth $84,000 after purchasing an additional 501 shares during the period. Cornerstone Planning Group LLC lifted its position in Utah Medical Products by 3,272.5% during the third quarter. Cornerstone Planning Group LLC now owns 1,349 shares of the medical instruments supplier’s stock worth $85,000 after purchasing an additional 1,309 shares during the period. Finally, State of Wyoming acquired a new stake in Utah Medical Products during the second quarter worth about $132,000. 69.60% of the stock is currently owned by institutional investors.

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).