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.
UTMD reported strong financial results for Q2 and H1 2022, exceeding initial projections. Revenues grew by 7% in Q2 and 9% in H1 compared to 2021, while net income surged by 19.7% in Q2 and 18% in H1. Despite rising variable costs impacting profit margins, operating income increased by 6% in Q2 and 10.7% in H1. The company maintained a robust balance sheet with no debt, and cash and investments rose to $66.2 million. The share price ended Q2 at $85.90, reflecting a 14.1% decline from the end of 2021, partly due to external market pressures.
Utah Medical Products (NASDAQ:UTMD) has announced a quarterly cash dividend of $.29 per share, payable on July 6, 2022, to shareholders of record by June 17, 2022. This reflects a 1.8% increase over the previous year's dividend. The company focuses on developing and marketing specialty medical devices for women and their babies, recognized for optimal long-term outcomes globally.
In the first quarter of 2022, Utah Medical Products (UTMD) reported revenues of $12.3 million, a 12.4% increase from 1Q 2021. Gross profit rose 8.4% to $7.5 million, while operating income climbed 16.3% to $4.5 million. Net income increased 16.9% to $3.5 million, with earnings per share (EPS) rising 16.6% to $0.964. While domestic sales grew 18%, international sales rose 4%. However, gross profit margin decreased to 61.1% due to higher costs. Cash and investments improved to $65.9 million, indicating a strong financial position.
Utah Medical Products (NASDAQ:UTMD) announced a quarterly cash dividend of $.29 per share, reflecting a 1.8% increase from the previous year. The dividend will be payable on April 5, 2022, to shareholders of record as of March 18, 2022. The company is recognized for its development and marketing of specialty medical devices, particularly focused on women's health and pediatric care, serving clinicians in over a hundred countries. For further details, visit www.utahmed.com.
Utah Medical Products (Nasdaq: UTMD) announced its 4Q 2021 financial results, showing substantial recovery from the pandemic impact. Key figures include a 21% increase in net income and earnings per share, both compared to 4Q 2020. Annual revenues rose by 16%, with gross profits up 21%. The company maintained a solid financial position, ending 2021 with $61 million in cash and a special $2.00/share dividend paid to stockholders. Despite challenges such as inflation and supply chain issues, UTMD's operational efficiency improved, demonstrating strong resilience and profitability.
Utah Medical Products, Inc. (NASDAQ:UTMD) announced a special cash dividend of $2.00 per share, payable on December 29, 2021, to stockholders of record by December 15, 2021. This action replaces the normal quarterly dividend and aims to maximize returns for shareholders. The company reported a cash balance of $64.3 million as of September 30, 2021, despite distributing $3.1 million in dividends earlier this year. Chairman Kevin Cornwell highlighted that this dividend reflects ongoing excellent operating performance and strategic cash management.
Utah Medical Products (Nasdaq: UTMD) reported robust 3Q 2021 financial results, showing a recovery from pandemic-induced dips. Revenues increased by 20% compared to 3Q 2020, with net income rising by 43% to $4,206. Furthermore, 9M 2021 results surpassed 2020, with a 44% rise in net income and earnings per share increased to $2.915. Cost management and a weaker USD further contributed to profitability, with gross profit margins at 64.2%. Notably, cash reserves grew to $64.3 million, reflecting strong operational performance in the medical device sector.
Utah Medical Products (NASDAQ:UTMD) has declared a quarterly cash dividend of $.285 per share, an approximate 2% increase from the prior year. The dividend is payable on October 5, 2021 to shareholders on record by September 16, 2021. The company focuses on developing and manufacturing specialty medical devices aimed at improving health care for women and infants. Their products are recognized in over 100 countries for optimal patient outcomes. For further details, visit www.utahmed.com.
Utah Medical Products reported substantial financial recovery in 2Q 2021, with revenues rising by 43% and net income increasing by 161% compared to 2Q 2020. The company's performance improvement is also evident when compared to 2019, with a 6% rise in revenue for the quarter. Factors such as a weaker U.S. dollar contributed significantly to foreign sales. However, the increase in deferred tax liabilities due to UK tax rate changes was noted. Based on current trends, management anticipates achieving an adjusted EBITDA of $25 million for the full year 2021.
Utah Medical Products, Inc. (Nasdaq: UTMD) announced a quarterly cash dividend of $.285 per share, payable on July 6, 2021, to shareholders of record as of June 15, 2021. This marks a 2% increase from the same quarter last year. The company specializes in developing, manufacturing, and marketing medical devices for women's healthcare and neonatal care, serving clinicians in over 100 countries worldwide.
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