Utah Medical Products (NASDAQ:UTMD) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Utah Medical Products shares have crossed above their 200-day moving average, reaching a peak of $57.93 during trading, though they last traded at $55.48.
• The company recently declared a quarterly dividend of $0.305 per share, representing a dividend yield of 2.2% and an annualized payout of $1.22.
• Several hedge funds have increased their stakes in Utah Medical Products, with institutional investors currently owning 69.60% of the stock.

Shares of Utah Medical Products, Inc. (NASDAQ:UTMD - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $56.37 and traded as high as $57.93. Utah Medical Products shares last traded at $55.48, with a volume of 75,770 shares trading hands.

Utah Medical Products Price Performance

The stock has a market capitalization of $188.17 million, a P/E ratio of 15.67 and a beta of 0.31. The stock's fifty day moving average is $56.51 and its two-hundred day moving average is $56.29.

Utah Medical Products (NASDAQ:UTMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $0.94 earnings per share (EPS) for the quarter. The company had revenue of $9.95 million for the quarter. Utah Medical Products had a return on equity of 10.55% and a net margin of 32.34%.

Utah Medical Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 17th. Utah Medical Products's payout ratio is presently 32.62%.

Hedge Funds Weigh In On Utah Medical Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP lifted its holdings in shares of Utah Medical Products by 12.0% in the second quarter. Brandes Investment Partners LP now owns 271,322 shares of the medical instruments supplier's stock valued at $15,444,000 after purchasing an additional 29,073 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Utah Medical Products by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 186,700 shares of the medical instruments supplier's stock valued at $11,476,000 after buying an additional 11,196 shares during the period. Geode Capital Management LLC lifted its stake in Utah Medical Products by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 114,816 shares of the medical instruments supplier's stock worth $6,537,000 after acquiring an additional 7,040 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Utah Medical Products by 35.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 101,640 shares of the medical instruments supplier's stock valued at $5,696,000 after acquiring an additional 26,460 shares in the last quarter. Finally, Minerva Advisors LLC increased its holdings in shares of Utah Medical Products by 7.1% in the 2nd quarter. Minerva Advisors LLC now owns 93,058 shares of the medical instruments supplier's stock valued at $5,267,000 after purchasing an additional 6,156 shares during the period. 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.