Utah Medical Products (NASDAQ:UTMD) Stock Passes Above 50-Day Moving Average – Should You Sell?

Utah Medical Products, Inc. (NASDAQ:UTMD)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $66.51 and traded as high as $67.21. Utah Medical Products shares last traded at $66.14, with a volume of 9,729 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Utah Medical Products in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Utah Medical Products Price Performance

The business has a 50 day moving average price of $66.51 and a 200 day moving average price of $63.28. The firm has a market capitalization of $210.33 million, a P/E ratio of 19.57 and a beta of 0.37.

Utah Medical Products (NASDAQ:UTMD) last posted its quarterly earnings data on Thursday, April 23rd. The medical instruments supplier reported $0.82 earnings per share for the quarter. Utah Medical Products had a return on equity of 9.13% and a net margin of 28.90%.The business had revenue of $8.72 million during the quarter.

Utah Medical Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, June 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 36.69%.

Institutional Investors Weigh In On Utah Medical Products

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank increased its position in Utah Medical Products by 435.6% during the third quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock worth $34,000 after acquiring an additional 440 shares during the period. Fifth Third Bancorp acquired a new stake in Utah Medical Products in the 1st quarter worth $43,000. 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 worth $67,000 after purchasing an additional 501 shares during the last quarter. State of Wyoming bought a new position in shares of Utah Medical Products during the 2nd quarter worth about $132,000. Finally, Russell Investments Group Ltd. raised its position 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 valued at $157,000 after buying an additional 2,334 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

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).