Utah Medical Products (NASDAQ:UTMD) Stock: Insider Kevin Cornwell Acquires 1,000 Shares

Utah Medical Products, Inc. (NASDAQ:UTMD) CEO Kevin Cornwell bought 1,000 shares of Utah Medical Products stock in a transaction dated Thursday, October 29th. The stock was acquired at an average price of $66.75 per share, with a total value of $66,750.00. Following the acquisition, the chief executive officer directly owned 189,472 shares of the company’s stock, valued at approximately $12,647,256. This represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Utah Medical Products Stock Down 3.0%

Shares of UTMD traded down $2.04 during midday trading on Thursday, reaching $66.80. 32,583 shares of the stock were exchanged, compared to its average volume of 22,117. The firm has a 50 day simple moving average of $73.07 and a 200-day simple moving average of $67.93. Utah Medical Products, Inc. has a 12-month low of $53.66 and a 12-month high of $76.89. The company has a market cap of $212.42 million, a price-to-earnings ratio of 20.00 and a beta of 0.38.

Utah Medical Products (NASDAQ:UTMD) last posted its earnings results on Thursday, October 22nd. The medical instruments supplier reported $0.88 earnings per share for the quarter. Utah Medical Products had a return on equity of 8.83% and a net margin of 30.48%. The firm had revenue of $8.62 million during the quarter.

Utah Medical Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 17th. Utah Medical Products’s payout ratio is presently 37.13%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Utah Medical Products from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Trading of Utah Medical Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Utah Medical Products in the second quarter valued at approximately $14,051,000. Rice Hall James & Associates LLC bought a new position in Utah Medical Products in the 2nd quarter worth approximately $4,923,000. Bank of New York Mellon Corp purchased a new position in shares of Utah Medical Products in the second quarter valued at $2,363,000. Bard Associates Inc. purchased a new position in Utah Medical Products during the 2nd quarter valued at about $1,279,000. Finally, Segall Bryant & Hamill LLC increased its holdings in Utah Medical Products by 87.7% during the 1st quarter. Segall Bryant & Hamill LLC now owns 21,547 shares of the medical instruments supplier’s stock worth $1,336,000 after acquiring an additional 10,065 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Utah Medical Products

Utah Medical Products, Inc (NASDAQ:UTMD) develops, manufactures and distributes medical devices used primarily in hospital and clinical settings. The company focuses on specialized products for women’s health, childbirth, neonatal care, electrosurgery, gastroenterology and related medical applications.

Its product portfolio includes fetal monitoring electrodes and catheters, intrauterine pressure monitoring devices, vacuum-assisted delivery systems, neonatal respiratory and care products, electrosurgical accessories, and other disposable and specialty medical instruments.