Utah Medical Products (NASDAQ:UTMD) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Utah Medical Products (NASDAQ:UTMD – Get Rating) in a research report released on Thursday morning. The firm issued a strong-buy rating on the medical instruments supplier’s stock.

Utah Medical Products Stock Down 2.2 %

Shares of NASDAQ UTMD opened at $92.50 on Thursday. Utah Medical Products has a fifty-two week low of $80.10 and a fifty-two week high of $109.50. The firm’s 50-day simple moving average is $91.05 and its 200 day simple moving average is $90.98. The stock has a market cap of $335.78 million, a P/E ratio of 20.51 and a beta of 0.16.

Utah Medical Products (NASDAQ:UTMD – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The medical instruments supplier reported $1.25 earnings per share for the quarter. Utah Medical Products had a net margin of 31.51% and a return on equity of 15.21%. The business had revenue of $13.58 million for the quarter.

Utah Medical Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 17th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 16th. Utah Medical Products’s dividend payout ratio (DPR) is presently 26.16%.

Institutional Investors Weigh In On Utah Medical Products

Several hedge funds and other institutional investors have recently bought and sold shares of UTMD. JPMorgan Chase & Co. raised its position in Utah Medical Products by 16.9% in the first quarter. JPMorgan Chase & Co. now owns 101,769 shares of the medical instruments supplier’s stock worth $9,145,000 after acquiring an additional 14,693 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Utah Medical Products by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 19,948 shares of the medical instruments supplier’s stock worth $1,793,000 after buying an additional 389 shares during the period. Acadian Asset Management LLC acquired a new stake in Utah Medical Products during the 1st quarter worth about $40,000. MetLife Investment Management LLC raised its holdings in Utah Medical Products by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 2,030 shares of the medical instruments supplier’s stock worth $182,000 after buying an additional 737 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in Utah Medical Products by 36.8% during the 1st quarter. Panagora Asset Management Inc. now owns 6,782 shares of the medical instruments supplier’s stock worth $609,000 after buying an additional 1,824 shares during the period. 70.04% of the stock is currently owned by institutional investors.

Utah Medical Products Company Profile

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Utah Medical Products, Inc engages in the manufacturing, developing, and marketing of disposable and reusable medical devices. It focuses on the healthcare of women and babies. Its products are used for blood pressure monitoring and blood collection, electrosurgery, gynecology, neonatal critical care, perinatology, and urology.