Bard Associates Inc. Makes New $1.28 Million Investment in Utah Medical Products, Inc. $UTMD

Key Points

• Bard Associates purchased 18,455 shares of Utah Medical Products in the second quarter, valued at approximately $1.28 million and representing about 0.58% of the company. Institutional investors collectively own 69.6% of UTMD.
• Utah Medical Products reported quarterly EPS of $0.84 on $8.53 million in revenue, with a 29.04% net margin. The company also declared a quarterly dividend of $0.31, equivalent to a 1.7% yield.
• UTMD shares opened at $71.55, near their 12-month high of $75.75, while analysts maintain an overall “Hold” rating.

Bard Associates Inc. purchased a new position in Utah Medical Products, Inc. (NASDAQ:UTMD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,455 shares of the medical instruments supplier's stock, valued at approximately $1,279,000. Bard Associates Inc. owned about 0.58% of Utah Medical Products at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Utah Medical Products in the 2nd quarter valued at $14,051,000. Rice Hall James & Associates LLC purchased a new position in shares of Utah Medical Products in the second quarter worth about $4,923,000. Bank of New York Mellon Corp purchased a new position in shares of Utah Medical Products in the second quarter worth about $2,363,000. Brandes Investment Partners LP grew its position in Utah Medical Products by 4.0% during the 4th quarter. Brandes Investment Partners LP now owns 351,322 shares of the medical instruments supplier's stock worth $19,660,000 after acquiring an additional 13,392 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Utah Medical Products in the 2nd quarter worth approximately $608,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Utah Medical Products from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Utah Medical Products currently has an average rating of "Hold".

Utah Medical Products Trading Up 0.2%

UTMD opened at $71.55 on Friday. The company has a market cap of $227.53 million, a price-to-earnings ratio of 21.81 and a beta of 0.35. The company's 50 day moving average is $69.85 and its 200 day moving average is $66.88. Utah Medical Products, Inc. has a 12-month low of $53.66 and a 12-month high of $75.75.

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

Utah Medical Products Dividend Announcement

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

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).

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