Utah Medical Products (NASDAQ:UTMD) Stock Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• UTMD shares crossed above their 50-day moving average, trading as high as $73.77 and last at $73.03; the 50-day average was $72.95.
• Analyst sentiment remains at “Hold”: Weiss Ratings raised its rating from “hold (c-)” to “hold (c),” and the stock has one analyst rating.
• The company reported quarterly EPS of $0.88 on $8.62 million in revenue and raised its quarterly dividend to $0.315 per share, equivalent to a 1.7% yield.

Utah Medical Products, Inc. (NASDAQ:UTMD - Get Free Report)'s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $72.95 and traded as high as $73.77. Utah Medical Products shares last traded at $73.03, with a volume of 20,913 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Utah Medical Products from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Utah Medical Products presently has a consensus rating of "Hold".

Utah Medical Products Trading Up 0.2%

The firm has a market capitalization of $232.24 million, a price-to-earnings ratio of 21.87 and a beta of 0.38. The firm has a fifty day moving average price of $72.95 and a 200 day moving average price of $68.45.

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

Utah Medical Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Thursday, December 17th will be paid a $0.3150 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Utah Medical Products's previous quarterly dividend of $0.31. The ex-dividend date is Thursday, December 17th. Utah Medical Products's dividend payout ratio is 37.13%.

Insider Activity

In other Utah Medical Products news, CEO Kevin L. Cornwell purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, October 29th. The stock was acquired at an average cost of $66.75 per share, with a total value of $66,750.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management increased its position in Utah Medical Products by 32.8% in the 3rd quarter. Ritholtz Wealth Management now owns 17,430 shares of the medical instruments supplier's stock valued at $1,291,000 after acquiring an additional 4,306 shares in the last quarter. State of Wyoming raised 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 acquiring an additional 1,880 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Utah Medical Products by 8.7% during the third quarter. Cardinal Capital Management now owns 29,458 shares of the medical instruments supplier's stock worth $2,190,000 after purchasing an additional 2,364 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Utah Medical Products during the second quarter worth approximately $225,000. Finally, Bank of America Corp DE acquired a new position in shares of Utah Medical Products during the second quarter worth approximately $283,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Utah Medical Products Company Profile

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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