Welcome to our dedicated page for Utah Med Prods news (Ticker: UTMD), a resource for investors and traders seeking the latest updates and insights on Utah Med Prods stock.
Utah Medical Products Inc. (UTMD) delivers innovative medical devices for critical healthcare needs, specializing in women's health and neonatal care. This news hub provides investors and healthcare professionals with timely updates on corporate developments, regulatory milestones, and clinical advancements.
Access consolidated information on quarterly earnings, product approvals, and strategic partnerships that shape UTMD's leadership in medical technology. Our repository includes press releases detailing innovations in electrosurgical tools, neonatal monitoring systems, and disposable medical devices used globally.
Key updates cover FDA clearances, manufacturing expansions, and clinical study results impacting healthcare delivery. Bookmark this page for streamlined tracking of UTMD's progress in developing devices that meet rigorous hospital standards across 100+ countries.
Utah Medical Products, Inc. (Nasdaq: UTMD) has announced a quarterly cash dividend of $0.30 per share of common stock. This represents a 1.7% increase compared to the dividend declared in the same quarter of the previous year. The dividend will be payable on October 4, 2024, to stockholders of record at the close of business on September 20, 2024.
UTMD specializes in developing, manufacturing, and marketing a wide range of disposable and reusable specialty medical devices, with a particular focus on healthcare for women and their babies. The company's products are recognized by clinicians in over 100 countries worldwide as the standard for achieving optimal long-term patient outcomes.
Utah Medical Products (Nasdaq: UTMD) reported a substantial decline in revenues for 2Q and 1H 2024 compared to the same periods in 2023. 2Q 2024 revenues were $2,466 (19.2%) lower, and 1H 2024 revenues were $3,646 (14.4%) lower. Major contributors to the decline include reduced sales in three categories: PendoTech OEM, China BPM Distributor, and Filshie Clip System.
Despite the revenue drop, UTMD maintained similar profit margins: Gross Profit Margin remained at 60.1% for 2Q 2024. However, Operating Income and Net Income declined by 22% and 18% respectively for 2Q 2024.
The balance sheet remains strong with $89.2 million in cash and no debt. The company paid $2.2 million in dividends and repurchased $9.4 million of its common stock during 1H 2024. UTMD expects a similar magnitude of revenue decline in the remaining quarters of 2024.
Utah Medical Products, Inc. (NASDAQ: UTMD) announced a 1.7% increase in their quarterly cash dividend to thirty cents ($.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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