BidaskClub Downgrades Utah Medical Products (NASDAQ:UTMD) to Hold

BidaskClub lowered shares of Utah Medical Products (NASDAQ:UTMD) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Shares of UTMD opened at $96.59 on Friday. The business has a 50-day moving average of $93.62 and a 200 day moving average of $87.22. Utah Medical Products has a fifty-two week low of $73.98 and a fifty-two week high of $102.70. The firm has a market cap of $360.36 million, a P/E ratio of 26.40 and a beta of 0.81.

Utah Medical Products (NASDAQ:UTMD) last announced its quarterly earnings data on Tuesday, July 30th. The medical instruments supplier reported $0.94 earnings per share (EPS) for the quarter. The business had revenue of $11.85 million for the quarter. Utah Medical Products had a return on equity of 15.13% and a net margin of 39.37%.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.10 annualized dividend and a dividend yield of 1.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of UTMD. Oppenheimer Asset Management Inc. raised its stake in shares of Utah Medical Products by 10.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,601 shares of the medical instruments supplier’s stock valued at $153,000 after purchasing an additional 158 shares during the period. Strs Ohio increased its position in shares of Utah Medical Products by 2.9% during the second quarter. Strs Ohio now owns 7,000 shares of the medical instruments supplier’s stock valued at $669,000 after buying an additional 200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Utah Medical Products by 3.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 8,712 shares of the medical instruments supplier’s stock worth $834,000 after buying an additional 287 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Utah Medical Products by 312.8% in the second quarter. Bank of Montreal Can now owns 388 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 294 shares in the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Utah Medical Products in the second quarter worth about $29,000. 75.09% of the stock is currently owned by institutional investors.

Utah Medical Products Company Profile

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry in the United States, Europe, and internationally. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD, an infant respiratory hood; and DELTRAN PLUS, a blood pressure monitoring system.

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