Wells Fargo & Company MN lowered its position in shares of Utah Medical Products, Inc. (NASDAQ:UTMD) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,433 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. Wells Fargo & Company MN owned approximately 0.55% of Utah Medical Products worth $1,479,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in UTMD. Brandes Investment Partners LP bought a new stake in shares of Utah Medical Products during the second quarter worth $2,833,000. Russell Investments Group Ltd. grew its stake in shares of Utah Medical Products by 19.1% during the second quarter. Russell Investments Group Ltd. now owns 47,619 shares of the medical instruments supplier’s stock worth $3,448,000 after purchasing an additional 7,649 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Utah Medical Products during the second quarter worth $325,000. Prudential Financial Inc. acquired a new stake in shares of Utah Medical Products during the second quarter worth $233,000. Finally, Everett Harris & Co. CA acquired a new stake in shares of Utah Medical Products during the second quarter worth $210,000. Institutional investors own 66.96% of the company’s stock.
Shares of Utah Medical Products, Inc. (NASDAQ UTMD) opened at 75.40 on Monday. The company’s 50 day moving average price is $74.61 and its 200-day moving average price is $70.15. The firm has a market capitalization of $280.41 million, a PE ratio of 21.62 and a beta of 0.75. Utah Medical Products, Inc. has a 52 week low of $56.30 and a 52 week high of $77.95.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.06 dividend on an annualized basis and a yield of 1.41%. Utah Medical Products’s payout ratio is currently 28.80%.
Separately, BidaskClub raised Utah Medical Products from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th.
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Utah Medical Products Profile
Utah Medical Products, Inc (UTMD) is engaged in the business of producing medical devices that are disposable and for hospital use. The Company’s product categories include labor and delivery/obstetrics, including fetal monitoring accessories, Vacuum-Assisted Delivery Systems (VAD), and other labor and delivery tools; neonatal intensive care, including DISPOSA-HOOD, DELTRAN PLUS and GESCO; gynecology/urology/electrosurgery, including LETZ System, FINESSE+ Generator, EPITOME, PATHFINDER PLUS, HOLMIUM LASER FIBRES, LIBERTY System, ENDOCURETTE, TVUS/HSG-Cath and LUMIN, and blood pressure monitoring, including DELTRAN Disposable Pressure Transducer (DPT), and pressure monitoring accessories, components and other molded parts.
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