BidaskClub Lowers Utah Medical Products (UTMD) to Buy

BidaskClub cut shares of Utah Medical Products (NASDAQ:UTMD) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

UTMD stock opened at $96.40 on Wednesday. The firm has a market cap of $363.50, a price-to-earnings ratio of 24.99 and a beta of 0.59. Utah Medical Products has a fifty-two week low of $60.15 and a fifty-two week high of $101.45.

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Utah Medical Products (NASDAQ:UTMD) last posted its quarterly earnings data on Tuesday, January 30th. The medical instruments supplier reported $0.95 earnings per share for the quarter. The firm had revenue of $10.20 million for the quarter. Utah Medical Products had a return on equity of 18.85% and a net margin of 20.54%.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, March 15th.

In related news, CEO Kevin L. Cornwell sold 1,095 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.01, for a total value of $99,655.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ernst G. Hoyer sold 5,212 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $89.11, for a total value of $464,441.32. Following the completion of the transaction, the director now owns 28,838 shares in the company, valued at approximately $2,569,754.18. The disclosure for this sale can be found here. Insiders have sold a total of 16,169 shares of company stock worth $1,466,903 in the last quarter. Company insiders own 8.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of Utah Medical Products in the fourth quarter worth $130,000. MetLife Investment Advisors LLC bought a new position in shares of Utah Medical Products in the fourth quarter worth $163,000. SG Americas Securities LLC bought a new position in shares of Utah Medical Products in the fourth quarter worth $189,000. The Manufacturers Life Insurance Company increased its position in shares of Utah Medical Products by 15.4% in the second quarter. The Manufacturers Life Insurance Company now owns 3,355 shares of the medical instruments supplier’s stock worth $242,000 after purchasing an additional 448 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Utah Medical Products in the fourth quarter worth $289,000. Institutional investors own 67.12% of the company’s stock.

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Utah Medical Products Company Profile

Utah Medical Products, Inc develops, manufactures, and distributes medical devices for the healthcare industry worldwide. 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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