BlackRock Inc. Invests $14.05 Million in Utah Medical Products, Inc. $UTMD

Key Points

• BlackRock acquired a new $14.05 million stake in Utah Medical Products during the second quarter, purchasing 203,690 shares and becoming the owner of approximately 6.41% of the company. Institutional investors collectively own 69.60% of UTMD.
• Utah Medical Products reported quarterly revenue of $8.53 million and earnings per share of $0.84, with a 29.04% net margin and 8.74% return on equity. The stock recently traded at $70.71, within its 52-week range of $53.66 to $75.75.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.8% yield. Analysts maintain a consensus “Hold” rating, while Weiss Ratings downgraded the stock slightly from “hold (c)” to “hold (c-).”

BlackRock Inc. acquired a new position in shares of Utah Medical Products, Inc. (NASDAQ:UTMD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 203,690 shares of the medical instruments supplier's stock, valued at approximately $14,051,000. BlackRock Inc. owned 6.41% of Utah Medical Products as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Rice Hall James & Associates LLC acquired a new stake in shares of Utah Medical Products in the 2nd quarter valued at about $4,923,000. Bank of New York Mellon Corp acquired a new position in shares of Utah Medical Products during the second quarter worth about $2,363,000. Brandes Investment Partners LP grew its holdings in shares of Utah Medical Products by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 351,322 shares of the medical instruments supplier's stock worth $19,660,000 after buying an additional 13,392 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Utah Medical Products during the second quarter worth about $608,000. Finally, Segall Bryant & Hamill LLC raised its position in Utah Medical Products by 87.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 21,547 shares of the medical instruments supplier's stock valued at $1,336,000 after buying an additional 10,065 shares during the last quarter. 69.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Utah Medical Products from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Utah Medical Products presently has a consensus rating of "Hold".

Utah Medical Products Price Performance

Shares of NASDAQ UTMD opened at $70.71 on Friday. The stock has a market capitalization of $224.86 million, a price-to-earnings ratio of 21.56 and a beta of 0.35. The business has a 50-day moving average of $70.68 and a 200-day moving average of $67.45. 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 released its earnings results on Thursday, July 23rd. The medical instruments supplier reported $0.84 earnings per share (EPS) for the quarter. Utah Medical Products had a return on equity of 8.74% and a net margin of 29.04%.The business had revenue of $8.53 million for the quarter.

Utah Medical Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 17th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Utah Medical Products's payout ratio 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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