Utah Medical Products (NASDAQ:UTMD) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Utah Medical Products, Inc. (NASDAQ:UTMD) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $59.61 and traded as high as $68.71. Utah Medical Products shares last traded at $67.82, with a volume of 87,162 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Utah Medical Products in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Utah Medical Products Stock Performance

The stock has a market capitalization of $217.02 million, a P/E ratio of 19.49 and a beta of 0.34. The business has a fifty day simple moving average of $60.35 and a 200-day simple moving average of $59.61.

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

Utah Medical Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Utah Medical Products’s dividend payout ratio is currently 35.63%.

Institutional Trading of Utah Medical Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in 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 buying an additional 440 shares during the period. First Horizon Advisors Inc. raised its position in shares of Utah Medical Products by 159.7% during the second quarter. First Horizon Advisors Inc. now owns 587 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 361 shares during the period. CWM LLC lifted its holdings in shares of Utah Medical Products by 287.4% in the 2nd quarter. CWM LLC now owns 829 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 615 shares in the last quarter. BNP Paribas Financial Markets grew its position in Utah Medical Products by 89.6% in the 3rd 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 during the period. Finally, Cornerstone Planning Group LLC increased its stake in Utah Medical Products by 3,272.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,349 shares of the medical instruments supplier’s stock valued at $85,000 after purchasing an additional 1,309 shares in the last quarter. 69.60% of the stock is owned by institutional investors.

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).