Utah Medical Products (NASDAQ:UTMD) Lowered to Hold at BidaskClub

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BidaskClub cut shares of Utah Medical Products (NASDAQ:UTMD) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Shares of NASDAQ UTMD traded up $0.15 during mid-day trading on Thursday, reaching $99.95. The company had a trading volume of 116 shares, compared to its average volume of 7,693. The stock has a market cap of $368.35 million, a PE ratio of 26.68 and a beta of 0.77. The company has a 50-day moving average price of $97.23 and a two-hundred day moving average price of $90.84. Utah Medical Products has a 1-year low of $73.98 and a 1-year high of $110.00.

Utah Medical Products (NASDAQ:UTMD) last issued its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $0.99 earnings per share for the quarter. Utah Medical Products had a return on equity of 15.02% and a net margin of 30.70%. The business had revenue of $12.49 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.28 per share. This is an increase from Utah Medical Products’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, December 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.12%.

In other news, insider Brian Koopman sold 300 shares of Utah Medical Products stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $107.00, for a total transaction of $32,100.00. Following the transaction, the insider now owns 607 shares in the company, valued at $64,949. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin L. Cornwell sold 1,667 shares of Utah Medical Products stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $107.10, for a total value of $178,535.70. The disclosure for this sale can be found here. Insiders have sold 1,973 shares of company stock worth $211,260 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of UTMD. Russell Investments Group Ltd. grew its holdings in shares of Utah Medical Products by 61.0% during the third quarter. Russell Investments Group Ltd. now owns 146,798 shares of the medical instruments supplier’s stock valued at $14,069,000 after buying an additional 55,644 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Utah Medical Products by 21.1% during the second quarter. BlackRock Inc. now owns 215,104 shares of the medical instruments supplier’s stock valued at $20,585,000 after buying an additional 37,509 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Utah Medical Products by 73.5% during the second quarter. Rice Hall James & Associates LLC now owns 78,053 shares of the medical instruments supplier’s stock valued at $7,470,000 after buying an additional 33,064 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Utah Medical Products by 45.2% during the second quarter. Ancora Advisors LLC now owns 91,178 shares of the medical instruments supplier’s stock valued at $8,726,000 after buying an additional 28,379 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Utah Medical Products by 2.4% during the first quarter. FMR LLC now owns 488,255 shares of the medical instruments supplier’s stock valued at $43,089,000 after buying an additional 11,248 shares in the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.

About Utah Medical Products

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry in the United States, Europe, and internationally. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD, an infant respiratory hood; and DELTRAN PLUS, a blood pressure monitoring system.

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