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Utah Medical Products, Inc. - UTMD STOCK NEWS

Welcome to our dedicated page for Utah Medical Products news (Ticker: UTMD), a resource for investors and traders seeking the latest updates and insights on Utah Medical Products stock.

Utah Medical Products, Inc. (Nasdaq: UTMD) is a leading developer, manufacturer, and marketer of specialty medical devices targeted towards improving healthcare for women and their babies. With a focus on disposable and reusable products, UTMD serves critical medical areas including blood pressure monitoring, blood collection, electrosurgery, gynecology, neonatal critical care, perinatology, and urology.

Headquartered in Salt Lake City, Utah Medical Products has established a global footprint, with its products being recognized as standards of care in over 100 countries. The company's portfolio includes proprietary devices such as electrosurgical pens, tenacula, endoscopic bulb irrigators, and blood bag spikes, which are primarily utilized in hospital critical care areas, labor and delivery departments, outpatient clinics, and physicians' offices.

Despite recent legal challenges related to the Filshie clip system, UTMD has successfully defended its reputation, achieving multiple lawsuit dismissals. Financial performance for the first quarter of 2024 saw minor declines in revenue and profit margins compared to the previous year, yet the company maintained substantial cash reserves and a strong balance sheet. UTMD continues to demonstrate resilience and commitment to high standards of product safety and effectiveness.

To learn more about Utah Medical Products, Inc., please visit their official website at www.utahmed.com.

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Utah Medical Products, Inc. (NASDAQ: UTMD) announced a 1.7% increase in their quarterly cash dividend to thirty cents ($.30) per share of common stock. The dividend will be payable on July 5, 2024, to stockholders of record as of June 14, 2024. The company specializes in health care products for women and babies, with a global presence in over a hundred countries.

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Utah Medical Products, Inc. reported financial performance for the first quarter of 2024, showing a decrease in revenues, gross profit, operating income, net income, and earnings per share compared to the same period in 2023. Despite lower sales both domestically and internationally, the company managed to maintain a strong balance sheet with no debt, ending with $93.8 million in cash and investments. The decline in gross profit was attributed to manufacturing overhead costs not decreasing proportionately to the sales decline, although the gross profit margin was higher than expected due to a favorable product mix and improved labor productivity.
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Utah Medical Products, Inc. (UTMD) has announced a 1.7% increase in its quarterly cash dividend to thirty cents per share of common stock. The dividend is payable on April 3, 2024, to stockholders of record at the close of business on March 15, 2024. The company specializes in health care for women and babies, manufacturing and marketing disposable and reusable specialty medical devices recognized globally.
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Utah Medical Products, Inc. (UTMD) achieved financial results for the full year of 2023 consistent with management’s beginning of year projections. Revenues were 4% lower, with net income and earnings per share 1% higher than in 2022. Operating income, income before tax, and gross profit margins were down in 2023 compared to 2022. However, net income and earnings per share margins were higher in 2023, despite lower consolidated worldwide sales. UTMD's balance sheet remained strong, with cash and investments of $92.9 million on December 31, 2023.
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Utah Medical Products, Inc. (Nasdaq:UTMD) has announced a quarterly cash dividend of $0.30 per share of common stock, payable on January 3, 2024. This represents a 1.7% increase over the previous dividend. Utah Medical Products is a leading company in the healthcare industry, specializing in medical devices for women and babies. They develop, manufacture, and market disposable and reusable specialty medical devices used by clinicians in over a hundred countries.
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Utah Medical Products, Inc. achieved financial results for 9M 2023 consistent with projections. Revenues decreased by 3% in 3Q 2023 compared to 3Q 2022. Gross profit decreased by 10% and operating income decreased by 23% in 3Q 2023. Net income increased by 4% in 9M 2023. The company's cash balance increased by $3.62 per outstanding share. Domestic sales were lower, while international sales were higher.
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Utah Medical Products, Inc. provides an update on the status of Filshie product liability lawsuits. Five lawsuits with a total of 54 claimants have been dismissed. Twelve lawsuits with 63 new claimants remain open. CEO Kevin Cornwell expresses confidence in defending the reputation of the Filshie clip System.
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Utah Medical Products, Inc. (NASDAQ:UTMD) announced a 1.7% increase in their quarterly cash dividend, now at $.295 per share, payable on October 3, 2023. The company specializes in health care for women and babies, manufacturing medical devices used globally.
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Utah Medical Products, Inc. (UTMD): Achieved 2Q and 1H 2023 financial results consistent with projections. Despite lower sales, 1H gross profit margin improved, resulting in almost the same total gross profit. Operating Income declined due to unusual litigation expenses, but Net Income for 1H 2023 was up 10% compared to 1H 2022. Key financial figures and margins are detailed in the PR, highlighting the company's performance and challenges.
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FAQ

What type of medical devices does Utah Medical Products, Inc. develop?

Utah Medical Products, Inc. develops a range of specialty medical devices, including those for blood pressure monitoring, blood collection, electrosurgery, gynecology, neonatal critical care, perinatology, and urology.

Where are Utah Medical Products' devices used?

The devices are primarily used in hospital critical care areas, labor and delivery departments, outpatient clinics, and physicians' offices.

What recent legal challenges has Utah Medical Products faced?

Utah Medical Products has faced lawsuits related to the Filshie clip system, but has successfully achieved multiple dismissals and continues to defend the product's safety and effectiveness.

How did Utah Medical Products perform financially in the first quarter of 2024?

In the first quarter of 2024, Utah Medical Products experienced minor declines in revenues and profit margins compared to the previous year but maintained strong cash reserves and a robust balance sheet.

What is the global reach of Utah Medical Products?

Utah Medical Products' devices are recognized by clinicians across over 100 countries globally.

What are some key products in Utah Medical Products' portfolio?

Key products include electrosurgical pens, tenacula, endoscopic bulb irrigators, and blood bag spikes.

How can I learn more about Utah Medical Products, Inc.?

You can visit the official website of Utah Medical Products, Inc. at www.utahmed.com for more information.

What are the core business areas of Utah Medical Products, Inc.?

The core business areas include the development, manufacturing, and marketing of proprietary, disposable, and reusable medical devices for hospital use.

Does Utah Medical Products, Inc. have a strong financial foundation?

Yes, as of March 31, 2024, the company had substantial cash reserves and a robust balance sheet, indicating strong financial health.

What is the mission of Utah Medical Products, Inc.?

The mission of Utah Medical Products, Inc. is to develop, manufacture, and market medical devices that achieve optimal long-term outcomes for patients, particularly in women's and neonatal health.

Utah Medical Products, Inc.

Nasdaq:UTMD

UTMD Rankings

UTMD Stock Data

246.67M
3.53M
6.63%
73.08%
2.01%
Surgical and Medical Instrument Manufacturing
Manufacturing
Link
United States of America
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