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

Shares of 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.

Wall Street Analysts Forecast Growth

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

Utah Medical Products Stock Performance

The company has a market cap of $204.16 million, a price-to-earnings ratio of 18.33 and a beta of 0.33. The business has a fifty day moving average price of $63.75 and a 200 day moving average price of $60.53.

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

Utah Medical Products Announces Dividend

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

Institutional Investors Weigh In On Utah Medical Products

Several hedge funds and other institutional investors have recently made changes to their positions in UTMD. Jane Street Group LLC acquired a new position in Utah Medical Products during the 1st quarter worth approximately $317,000. Geode Capital Management LLC boosted its position in Utah Medical Products by 6.5% in the second quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier’s stock valued at $6,537,000 after buying an additional 7,040 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Utah Medical Products by 10.6% during the second quarter. Rhumbline Advisers now owns 5,716 shares of the medical instruments supplier’s stock worth $325,000 after buying an additional 550 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Utah Medical Products by 550.5% during the second quarter. Russell Investments Group Ltd. now owns 2,758 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 2,334 shares in the last quarter. Finally, Brandes Investment Partners LP increased its holdings in shares of Utah Medical Products by 12.0% during the second quarter. Brandes Investment Partners LP now owns 271,322 shares of the medical instruments supplier’s stock worth $15,444,000 after buying an additional 29,073 shares in the last quarter. 69.60% of the stock is 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).