Utah Medical Products (NASDAQ:UTMD) Stock: Insider Kevin Cornwell Buys 1,000 Shares

Key Points

• CEO Kevin Cornwell bought 1,000 UTMD shares at an average price of $66.75, investing $66,750 and increasing his direct ownership to 189,472 shares.
• UTMD traded near $66.80, with a $212.4 million market capitalization, while its latest quarter produced $0.88 in EPS and $8.62 million in revenue.
• The company pays a quarterly dividend of $0.31, equivalent to a $1.24 annualized payout and a 1.9% yield; analysts maintain a consensus Hold rating.

Utah Medical Products, Inc. (NASDAQ:UTMD - Get Free Report) CEO Kevin Cornwell bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average price of $66.75 per share, for a total transaction of $66,750.00. Following the completion of the transaction, the chief executive officer directly owned 189,472 shares of the company's stock, valued at $12,647,256. This represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Utah Medical Products Price Performance

Shares of UTMD traded down $2.04 during mid-day trading on Thursday, reaching $66.80. 32,583 shares of the company's stock traded hands, compared to its average volume of 22,117. The stock has a market cap of $212.42 million, a P/E ratio of 20.00 and a beta of 0.38. Utah Medical Products, Inc. has a 12 month low of $53.66 and a 12 month high of $76.89. The stock's 50-day moving average is $73.07 and its two-hundred day moving average is $67.93.

Utah Medical Products (NASDAQ:UTMD - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The medical instruments supplier reported $0.88 EPS for the quarter. Utah Medical Products had a net margin of 30.48% and a return on equity of 8.83%. The business had revenue of $8.62 million during the quarter.

Utah Medical Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 17th. Utah Medical Products's dividend payout ratio is 37.13%.

Hedge Funds Weigh In On Utah Medical Products

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming increased its stake in shares of Utah Medical Products by 39.1% in the third quarter. State of Wyoming now owns 6,683 shares of the medical instruments supplier's stock worth $495,000 after buying an additional 1,880 shares during the last quarter. Cardinal Capital Management increased its position in Utah Medical Products by 8.7% in the third quarter. Cardinal Capital Management now owns 29,458 shares of the medical instruments supplier's stock worth $2,190,000 after buying an additional 2,364 shares during the period. Empowered Funds LLC acquired a new position in Utah Medical Products during the 2nd quarter valued at about $225,000. Bank of America Corp DE bought a new position in Utah Medical Products in the 2nd quarter worth approximately $283,000. Finally, Sanctuary Advisors LLC bought a new position in Utah Medical Products in the 2nd quarter valued at about $544,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Utah Medical Products from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 9th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

About Utah Medical Products

Utah Medical Products, Inc NASDAQ: UTMD develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women's health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications.

Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.

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