Utah Medical Products (NASDAQ:UTMD) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Utah Medical Products, Inc. (NASDAQ:UTMD)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $67.97 and traded as low as $66.65. Utah Medical Products shares last traded at $66.80, with a volume of 32,585 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One analyst has rated the stock with a Hold rating. According to MarketBeat, the stock has a consensus rating of “Hold”.

Utah Medical Products Price Performance

The firm has a market capitalization of $212.42 million, a PE ratio of 20.00 and a beta of 0.38. The firm has a fifty day moving average price of $72.97 and a 200 day moving average price of $67.97.

Utah Medical Products (NASDAQ:UTMD) last posted its quarterly earnings data on Thursday, October 22nd. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter. Utah Medical Products had a return on equity of 8.83% and a net margin of 30.48%. The firm had revenue of $8.62 million for the quarter.

Utah Medical Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 17th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. Utah Medical Products’s payout ratio is currently 37.13%.

Insider Buying and Selling

In other news, CEO Kevin L. Cornwell acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average price of $66.75 per share, with a total value of $66,750.00. Following the purchase, the chief executive officer owned 189,472 shares of the company’s stock, valued at approximately $12,647,256. This trade represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Utah Medical Products

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Utah Medical Products during the second quarter valued at $14,051,000. Rice Hall James & Associates LLC acquired a new position in Utah Medical Products in the 2nd quarter worth about $4,923,000. Bank of New York Mellon Corp acquired a new position in Utah Medical Products in the 2nd quarter worth about $2,363,000. Bard Associates Inc. purchased a new stake in shares of Utah Medical Products during the 2nd quarter worth about $1,279,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Utah Medical Products during the 2nd quarter worth about $544,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Utah Medical Products Company Profile

Utah Medical Products, Inc (NASDAQ:UTMD) develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women’s health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications.

Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.