Utah Medical Products (NASDAQ:UTMD) Downgraded by BidaskClub

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

NASDAQ:UTMD opened at $93.05 on Tuesday. The company has a 50-day moving average of $90.23 and a 200-day moving average of $86.95. The company has a market capitalization of $347.19 million, a price-to-earnings ratio of 25.43 and a beta of 0.83. Utah Medical Products has a 52 week low of $73.98 and a 52 week high of $102.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 12th.

Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of Utah Medical Products by 3.4% during the 2nd quarter. Bessemer Group Inc. now owns 12,200 shares of the medical instruments supplier’s stock worth $1,168,000 after acquiring an additional 400 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Utah Medical Products by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 49,707 shares of the medical instruments supplier’s stock worth $4,128,000 after acquiring an additional 1,422 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Utah Medical Products during the 1st quarter worth about $224,000. Rice Hall James & Associates LLC lifted its holdings in shares of Utah Medical Products by 73.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 78,053 shares of the medical instruments supplier’s stock worth $7,470,000 after acquiring an additional 33,064 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Utah Medical Products by 10.0% during the 1st quarter. Raymond James & Associates now owns 16,979 shares of the medical instruments supplier’s stock worth $1,498,000 after acquiring an additional 1,542 shares during the period. 78.83% of the stock is owned by institutional investors.

About Utah Medical Products

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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