Utah Medical Products (NASDAQ:UTMD) Releases Earnings Results

Key Points

• Utah Medical Products reported quarterly earnings of $0.84 per share, with a return on equity of 9.13% and a net margin of 28.90%.
• The stock fell 4.7% to $65.95 after the report, on volume below its average; the shares trade near their 50-day and 200-day moving averages and have a market cap of about $209.7 million.
• The company paid a quarterly dividend of $0.31, equal to an annualized yield of 1.9%, while analysts currently maintain a Hold consensus rating.

Utah Medical Products (NASDAQ:UTMD - Get Free Report) issued its quarterly earnings results on Thursday. The medical instruments supplier reported $0.84 EPS for the quarter, Zacks reports. Utah Medical Products had a return on equity of 9.13% and a net margin of 28.90%.

Utah Medical Products Stock Down 4.7%

Utah Medical Products stock traded down $3.23 during trading on Thursday, hitting $65.95. The stock had a trading volume of 4,274 shares, compared to its average volume of 14,471. The stock's 50 day moving average is $67.79 and its two-hundred day moving average is $65.30. Utah Medical Products has a 1 year low of $53.66 and a 1 year high of $75.75. The stock has a market cap of $209.74 million, a price-to-earnings ratio of 19.51 and a beta of 0.36.

Utah Medical Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Wednesday, June 17th were paid a $0.31 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.24 annualized dividend and a yield of 1.9%. Utah Medical Products's dividend payout ratio is presently 36.69%.

Institutional Investors Weigh In On Utah Medical Products

Several institutional investors have recently added to or reduced their stakes in UTMD. Barclays PLC raised its stake in Utah Medical Products by 19.3% in the fourth quarter. Barclays PLC now owns 5,619 shares of the medical instruments supplier's stock valued at $314,000 after purchasing an additional 908 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Utah Medical Products by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,125 shares of the medical instruments supplier's stock valued at $231,000 after acquiring an additional 1,779 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Utah Medical Products by 47.1% in the third quarter. Russell Investments Group Ltd. now owns 4,057 shares of the medical instruments supplier's stock worth $255,000 after purchasing an additional 1,299 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Utah Medical Products in the second quarter valued at about $208,000. Finally, Invesco Ltd. raised its position in Utah Medical Products by 33.8% during the 2nd quarter. Invesco Ltd. now owns 4,955 shares of the medical instruments supplier's stock valued at $282,000 after purchasing an additional 1,253 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Utah Medical Products in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Utah Medical Products has a consensus rating of "Hold".

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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