Utah Medical Products (NASDAQ:UTMD) Posts Quarterly Earnings Results

Utah Medical Products (NASDAQ:UTMD) released its quarterly earnings data on Thursday. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, Zacks reports. Utah Medical Products had a net margin of 30.08% and a return on equity of 9.89%.

Utah Medical Products Trading Up 0.0%

Shares of NASDAQ:UTMD traded up $0.02 during mid-day trading on Thursday, hitting $60.86. 685 shares of the company traded hands, compared to its average volume of 13,361. The stock has a 50-day moving average price of $57.71 and a two-hundred day moving average price of $58.80. Utah Medical Products has a 12-month low of $51.26 and a 12-month high of $64.46. The stock has a market cap of $194.74 million, a P/E ratio of 17.23 and a beta of 0.33.

Utah Medical Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Tuesday, December 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from Utah Medical Products’s previous quarterly dividend of $0.31. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. Utah Medical Products’s payout ratio is presently 35.03%.

Hedge Funds Weigh In On Utah Medical Products

A number of hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in Utah Medical Products during the third quarter worth $159,000. Qube Research & Technologies Ltd increased its position in shares of Utah Medical Products by 7.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 13,488 shares of the medical instruments supplier’s stock valued at $849,000 after purchasing an additional 948 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Utah Medical Products by 61.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 7,327 shares of the medical instruments supplier’s stock worth $461,000 after purchasing an additional 2,798 shares during the period. Comerica Bank boosted its holdings in shares of Utah Medical Products by 435.6% in 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 last quarter. Finally, BNP Paribas Financial Markets grew its position in Utah Medical Products by 89.6% during the third quarter. BNP Paribas Financial Markets now owns 1,060 shares of the medical instruments supplier’s stock valued at $67,000 after buying an additional 501 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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).