Bank of New York Mellon Corp Takes Position in Utah Medical Products, Inc. $UTMD

Key Points

• Bank of New York Mellon acquired 34,263 shares of Utah Medical Products worth approximately $2.36 million, giving it a 1.08% stake. Institutional investors collectively own 69.6% of the company.
• Utah Medical Products reported quarterly EPS of $0.84 on revenue of $8.53 million, with a 29.04% net margin and 8.74% return on equity. The stock has a consensus “Hold” rating after Weiss Ratings lowered its assessment.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.7% yield. Shares recently opened at $71.10, compared with a 52-week range of $53.66 to $75.75.

Bank of New York Mellon Corp acquired a new position in shares of Utah Medical Products, Inc. (NASDAQ:UTMD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,263 shares of the medical instruments supplier's stock, valued at approximately $2,363,000. Bank of New York Mellon Corp owned about 1.08% of Utah Medical Products at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank lifted its position 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 purchasing an additional 440 shares during the period. Fifth Third Bancorp bought a new position in Utah Medical Products during the first quarter worth $43,000. BNP Paribas Financial Markets lifted its holdings in Utah Medical Products by 89.6% in 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. State of Wyoming bought a new stake in Utah Medical Products during the second quarter valued at $132,000. Finally, Russell Investments Group Ltd. grew 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 acquiring an additional 2,334 shares during the period. 69.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Utah Medical Products from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 26th. One research 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

UTMD stock opened at $71.10 on Tuesday. The stock's 50 day simple moving average is $70.59 and its 200 day simple moving average is $67.54. The company has a market cap of $226.10 million, a P/E ratio of 21.68 and a beta of 0.35. Utah Medical Products, Inc. has a fifty-two week low of $53.66 and a fifty-two week high of $75.75.

Utah Medical Products (NASDAQ:UTMD - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The medical instruments supplier reported $0.84 EPS for the quarter. Utah Medical Products had a return on equity of 8.74% and a net margin of 29.04%.The firm had revenue of $8.53 million during the quarter.

Utah Medical Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 17th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 17th. Utah Medical Products's dividend payout ratio (DPR) is 37.80%.

About Utah Medical Products

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).

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