Utah Medical Products (NASDAQ:UTMD) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Utah Medical Products, Inc. (NASDAQ:UTMD)’s share price passed 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 changing hands.

Analyst Upgrades and Downgrades

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

Utah Medical Products Stock Performance

The stock has a 50-day moving average of $66.51 and a 200 day moving average 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 issued its quarterly earnings data on Thursday, April 23rd. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter. The firm had revenue of $8.72 million during the quarter. Utah Medical Products had a return on equity of 9.13% and a net margin of 28.90%.

Utah Medical Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Wednesday, June 17th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, June 17th. This represents a $1.24 annualized dividend and a yield of 1.9%. Utah Medical Products’s dividend payout ratio is 36.69%.

Hedge Funds Weigh In On Utah Medical Products

A number of large investors have recently modified their holdings of the stock. Comerica Bank grew its stake in shares of Utah Medical Products by 435.6% during the third quarter. Comerica Bank now owns 541 shares of the medical instruments supplier’s stock valued at $34,000 after purchasing an additional 440 shares during the last quarter. Fifth Third Bancorp bought a new position in Utah Medical Products in the 1st quarter worth approximately $43,000. BNP Paribas Financial Markets raised 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 acquired a new position in Utah Medical Products during the 2nd quarter worth $132,000. Finally, Russell Investments Group Ltd. lifted its holdings in Utah Medical Products by 550.5% during the 2nd 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. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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).