Utah Medical Products (NASDAQ:UTMD) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Utah Medical Products (NASDAQ:UTMD) from a strong-buy rating to a buy rating in a research report report published on Thursday.

Utah Medical Products Trading Up 0.6 %

NASDAQ:UTMD traded up $0.41 during mid-day trading on Thursday, hitting $67.64. The stock had a trading volume of 2,467 shares, compared to its average volume of 22,146. The stock has a 50-day simple moving average of $65.98 and a two-hundred day simple moving average of $67.31. The company has a market capitalization of $235.39 million, a PE ratio of 15.74 and a beta of 0.08. Utah Medical Products has a twelve month low of $63.38 and a twelve month high of $87.86.

Utah Medical Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.22 dividend on an annualized basis and a yield of 1.80%. This is a boost from Utah Medical Products’s previous quarterly dividend of $0.30. Utah Medical Products’s dividend payout ratio (DPR) is presently 28.10%.

Institutional Trading of Utah Medical Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC acquired a new stake in Utah Medical Products during the third quarter worth approximately $53,000. Allspring Global Investments Holdings LLC purchased a new stake in Utah Medical Products in the 2nd quarter valued at $83,000. Victory Capital Management Inc. raised its position in Utah Medical Products by 124.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,673 shares of the medical instruments supplier’s stock valued at $179,000 after purchasing an additional 1,482 shares during the last quarter. EntryPoint Capital LLC raised its position in Utah Medical Products by 124.1% in the 1st quarter. EntryPoint Capital LLC now owns 3,240 shares of the medical instruments supplier’s stock valued at $230,000 after purchasing an additional 1,794 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Utah Medical Products in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Utah Medical Products

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.