Utah Medical Products (NASDAQ:UTMD) Posts Earnings Results

Key Points

• Utah Medical Products reported earnings of $0.82 per share for the quarter, with a net margin of 32.34% and a return on equity of 10.55%.
• The company's stock increased by 0.5% to $60.74, with a market capitalization of $194.96 million and a P/E ratio of 16.27.
• Despite positive earnings, Weiss Ratings has a "sell" rating on the stock, indicating cautious sentiment amid recent institutional investment changes.

Utah Medical Products (NASDAQ:UTMD - Get Free Report) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $0.82 earnings per share for the quarter, Zacks reports. Utah Medical Products had a net margin of 32.34% and a return on equity of 10.55%.

Utah Medical Products Stock Up 0.5%

Shares of Utah Medical Products stock traded up $0.29 on Thursday, hitting $60.74. The company's stock had a trading volume of 7,139 shares, compared to its average volume of 7,263. Utah Medical Products has a 52-week low of $51.26 and a 52-week high of $68.99. The firm has a fifty day moving average price of $61.47 and a 200-day moving average price of $57.32. The company has a market capitalization of $194.96 million, a P/E ratio of 16.27 and a beta of 0.32.

Utah Medical Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Wednesday, September 17th were given a $0.305 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $1.22 annualized dividend and a dividend yield of 2.0%. Utah Medical Products's payout ratio is currently 32.62%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Utah Medical Products in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Utah Medical Products currently has an average rating of "Sell".

Institutional Investors Weigh In On Utah Medical Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new stake in shares of Utah Medical Products during the 2nd quarter worth about $132,000. Quantinno Capital Management LP acquired a new stake in shares of Utah Medical Products during the 2nd quarter worth about $608,000. Sei Investments Co. acquired a new stake in shares of Utah Medical Products during the 2nd quarter worth about $208,000. Invesco Ltd. boosted its stake in shares of Utah Medical Products by 33.8% during the 2nd quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier's stock worth $282,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 2,334 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Utah Medical Products Company Profile

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry worldwide. It offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD infant respiratory hoods; and DELTRAN PLUS blood pressure monitoring systems.

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