Utah Medical Products (NASDAQ:UTMD) Releases Earnings Results

Utah Medical Products (NASDAQ:UTMD) issued its quarterly earnings data on Thursday. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, Zacks reports. Utah Medical Products had a net margin of 30.08% and a return on equity of 9.89%. The firm had revenue of $9.04 million for the quarter.

Utah Medical Products Stock Down 0.6%

UTMD stock traded down $0.34 during trading on Friday, hitting $61.31. The company had a trading volume of 2,682 shares, compared to its average volume of 13,339. The firm has a 50-day moving average price of $57.87 and a 200-day moving average price of $58.82. Utah Medical Products has a 1-year low of $51.26 and a 1-year high of $64.46. The firm has a market cap of $196.19 million, a PE ratio of 17.32 and a beta of 0.33.

Utah Medical Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. This is a positive change from Utah Medical Products’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, December 16th. Utah Medical Products’s payout ratio is currently 35.03%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Utah Medical Products in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Utah Medical Products has a consensus rating of “Sell”.

Hedge Funds Weigh In On Utah Medical Products

A number of large investors have recently modified their holdings of UTMD. Advisory Services Network LLC acquired a new position in shares of Utah Medical Products during the 3rd quarter worth $159,000. Qube Research & Technologies Ltd boosted its stake in shares of Utah Medical Products by 7.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 13,488 shares of the medical instruments supplier’s stock worth $849,000 after purchasing an additional 948 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Utah Medical Products by 61.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 7,327 shares of the medical instruments supplier’s stock valued at $461,000 after purchasing an additional 2,798 shares during the period. Comerica Bank increased its stake 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 valued at $34,000 after acquiring an additional 440 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Utah Medical Products by 89.6% during the third quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock worth $67,000 after purchasing an additional 501 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other 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).