Utah Medical Products, Inc.
- Open
- 70.53
- Day high
- 70.87
- Day low
- 68.97
- Prev close
- 69.80
- Volume
- 19K
- Mkt cap
- $221M
- P/E (TTM)
- 21.0
- EPS (TTM)
- $3.30
- P/B
- 1.8
- P/S
- 5.9
- Yield
- 0.89%
- Per share
- $0.62
Utah Medical Products, Inc. (UTMD) is a Healthcare company listed on NASDAQ. The stock is up 25% over the past year.
Utah Medical Products, Inc. (UTMD) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
UTMD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | — | $0.82 | — | $9M | — |
| Jan 29, 2026 | — | $0.80 | — | $9M | — |
| Oct 23, 2025 | — | $0.82 | — | $10M | — |
| Jul 24, 2025 | — | $0.94 | — | $10M | — |
| Jan 28, 2025 | — | $0.86 | — | $9M | — |
| Jul 25, 2024 | — | $0.98 | — | $10M | — |
| Apr 25, 2024 | — | $1.09 | — | $11M | — |
| Jan 30, 2024 | — | $1.18 | — | $12M | — |
| Oct 26, 2023 | — | $1.08 | — | $13M | — |
| Jul 25, 2023 | — | $1.15 | — | $13M | — |
| Jan 31, 2023 | — | $1.25 | — | $14M | — |
| Jul 26, 2022 | — | $1.12 | — | $13M | — |
UTMD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Nov 25, 2025 | Koopman Brianofficer: Principal Financial Officer | Grant | 500 | $58.10 |
| Nov 8, 2024 | Koopman Brianofficer: Principal Financial Officer | Grant | 500 | $64.09 |
| Dec 26, 2023 | Koopman Brianofficer: Principal Financial Officer | Grant | 500 | $77.07 |
| May 19, 2023 | RICHINS PAUL Odirector | Sell | 700 | $93.47 |
| Dec 6, 2022 | Koopman Brianofficer: Principal Financial Officer | Option | 500 | — |
| Dec 6, 2022 | Koopman Brianofficer: Principal Financial Officer | Tax | 366 | $101.88 |
| Nov 21, 2022 | RICHINS PAUL Odirector | Sell | 449 | $90.81 |
| Nov 17, 2022 | RICHINS PAUL Odirector | Sell | 161 | $90.00 |
| Nov 15, 2022 | RICHINS PAUL Odirector | Sell | 40 | $92.50 |
| Oct 25, 2022 | Koopman Brianofficer: Principal Financial Officer | Grant | 1,000 | — |
| May 11, 2022 | PAYNE BARBARA Adirector: | Sell | 2,000 | $85.20 |
| Dec 13, 2021 | RICHINS PAUL Odirector | Option | 62 | $50.72 |
| Nov 26, 2021 | HOYER ERNST Gdirector | Sell | 100 | $125.01 |
| Nov 26, 2021 | HOYER ERNST Gdirector | Sell | 4,900 | $126.41 |
| Nov 18, 2021 | PAYNE BARBARA Adirector | Sell | 751 | $111.06 |
Source: UTMD SEC Form 4 filings, latest Nov 25, 2025. For informational purposes only — not investment advice.
See the full UTMD insider & 13F page →Utah Medical Products, Inc. company profile
Overview
Utah Medical Products, Inc. (NASDAQ:UTMD) is a specialized medical device manufacturer founded in 1978 and headquartered in Midvale, Utah. The company went public in 1999 and has established itself as a niche player in the medical instruments and supplies industry, focusing primarily on women's health, neonatal care, and critical care medical devices. UTMD operates as a small-cap healthcare company that develops, manufactures, and distributes specialized medical devices primarily for hospital use, with a particular emphasis on labor and delivery, gynecological procedures, and neonatal intensive care applications.
Business
Utah Medical Products operates in the medical device manufacturing industry, specifically focusing on specialized instruments and supplies for healthcare providers. The medical device industry encompasses companies that design, manufacture, and distribute equipment, instruments, and supplies used in medical diagnosis, treatment, and patient care. This industry is highly regulated by agencies like the FDA and requires extensive testing and approval processes for new products. The company's product portfolio spans several key medical specialties. In women's health and obstetrics, UTMD manufactures fetal monitoring accessories that help healthcare providers track the health of unborn babies during pregnancy and delivery, vacuum-assisted delivery systems used during difficult births, and various labor and delivery tools. The company also produces the LETZ system, which is used to remove abnormal cervical tissue, and Filshie Clip devices for female surgical sterilization. For neonatal and pediatric care, the company offers DISPOSA-HOOD infant respiratory hoods that provide controlled oxygen environments for newborns, GESCO umbilical vessel catheters used for accessing blood vessels in critically ill infants, and various feeding and monitoring devices specifically designed for the unique needs of newborn patients in intensive care units. In the critical care and monitoring segment, UTMD produces the DELTRAN PLUS blood pressure monitoring systems, which are disposable pressure transducers used to accurately measure blood pressure in critically ill patients. The company also manufactures various catheterization supplies, dialysis equipment, and specialized surgical instruments. The company's gynecological and urological product line includes devices for minimally invasive procedures, urinary incontinence treatment systems, and specialized instruments for diagnostic and therapeutic procedures in women's health. While specific revenue breakdowns by product category are not publicly disclosed, the company's focus on niche, specialized devices suggests a diversified revenue stream across these medical specialties.
Revenue model
Utah Medical Products operates on a traditional medical device manufacturing business model, generating revenue primarily through direct product sales to healthcare institutions. The company sells its devices to hospitals, outpatient clinics, and physician offices, with neonatal intensive care units, labor and delivery departments, and women's health centers representing its core customer base. The company's revenue model is based on selling specialized, often single-use medical devices that command premium pricing due to their specialized nature and regulatory requirements. Many of UTMD's products are disposable items that create recurring revenue streams as hospitals must continuously reorder supplies. This consumable aspect of the business provides more predictable revenue compared to durable medical equipment. UTMD distributes its products through multiple channels including direct sales force, independent consultants, and manufacturer representatives. This multi-channel approach allows the company to reach various market segments while maintaining relationships with key healthcare providers. Several factors influence the company's margins and profitability. Positive margin drivers include the specialized nature of its products which face limited direct competition, the critical care applications that make price sensitivity lower, and the recurring nature of disposable products. The company's focus on niche markets allows it to maintain higher margins than mass-market medical device manufacturers. Margin pressures come from healthcare cost containment initiatives that push hospitals to reduce supply costs, potential competition from larger medical device companies entering niche markets, regulatory compliance costs that require ongoing investment in quality systems and clinical trials, and raw material cost fluctuations that can impact manufacturing expenses. Additionally, hospital consolidation can increase buyer power and pressure pricing, while reimbursement changes in healthcare can affect demand for certain procedures and associated devices.
Competitive moat
Utah Medical Products operates in a relatively narrow moat position within the medical device industry. The company's primary competitive advantages stem from its specialized product focus and regulatory barriers rather than strong network effects or switching costs typically associated with wide-moat businesses. The company's strongest moat elements include its established relationships with neonatal intensive care units and women's health departments, where product reliability and clinical outcomes are paramount. Healthcare providers are often reluctant to switch suppliers for critical care devices due to the risks associated with patient safety and the time investment required to train staff on new equipment. Additionally, the FDA approval process creates regulatory barriers that can take years and significant investment for competitors to overcome. However, UTMD's moat faces several vulnerabilities. The company operates in niche markets that, while specialized, are not immune to competition from larger medical device manufacturers with greater resources for research and development. Companies like Medtronic, Johnson & Johnson's medical device division, or other established players could potentially enter UTMD's markets with superior technology or more aggressive pricing strategies. The company's small size, while allowing for agility and focus, also limits its ability to invest heavily in next-generation technologies or expand into adjacent markets. The medical device industry is increasingly driven by digital integration, artificial intelligence, and connected devices, areas where UTMD may struggle to compete against larger, more technologically advanced competitors. Furthermore, the company's dependence on traditional medical procedures makes it vulnerable to shifts in medical practice, such as the adoption of less invasive techniques or alternative treatment approaches that might reduce demand for its current product portfolio. The moat is best characterized as narrow but defensible in the near term, with the company's survival dependent on continued innovation and maintaining its specialized market position.
Risks & safety
Utah Medical Products exhibits a very strong margin of safety from a financial stability perspective, though valuation metrics suggest more modest safety margins. **Financial Strength:** - Exceptional cash position with $83.0 million in cash and short-term investments against minimal debt - Debt-to-equity ratio of only 0.0024, indicating virtually no financial leverage risk - Current ratio of 25.6x demonstrates overwhelming liquidity strength - Strong free cash flow generation of approximately $15-20 million annually - No meaningful solvency risk given the fortress-like balance sheet **Valuation Metrics:** - Trading at P/E ratio of 15.5x based on 2024 earnings, reasonable but not deeply discounted - EV/EBITDA of 8.1x appears fair for a stable, profitable medical device company - Price-to-book ratio of 1.83x suggests modest premium to book value - Graham number calculations suggest current price is near fair value range **Other Considerations:** - Revenue declined from $52.3 million in 2022 to $40.9 million in 2024, indicating business headwinds - Return on equity of 11.8% demonstrates reasonable profitability but not exceptional returns - Small market capitalization of $182 million creates liquidity constraints for larger investors - Dependence on specialized medical markets provides stability but limits growth potential
Recent development
Based on the available financial data, Utah Medical Products has experienced notable changes in its business trajectory over recent years. The most significant development has been a substantial revenue decline from $52.3 million in 2022 to $40.9 million in 2024, representing a 22% decrease over two years. This decline appears to have occurred despite maintaining strong profitability margins, suggesting the company may be facing market contraction in some of its key product areas or increased competition. Despite the revenue challenges, the company has maintained strong cash generation and continued to build its cash reserves, with cash and short-term investments growing from $75.1 million in 2022 to $83.0 million in 2024. This cash accumulation strategy suggests management is taking a conservative approach during a period of business uncertainty. The company's profitability metrics have remained relatively stable despite the revenue decline. Net margins have actually improved slightly, with the company maintaining EBITDA margins in the 35-40% range, indicating effective cost management and operational efficiency. This suggests that while the company may be losing some market share or facing demand challenges, it has been able to maintain the profitability of its remaining business. The balance sheet strengthening continues to be a key focus, with the company maintaining minimal debt levels and building cash reserves. This conservative financial management approach provides significant flexibility for potential acquisitions, product development investments, or weathering further market challenges. However, the lack of visible growth investments or strategic initiatives may indicate limited opportunities for organic expansion in the company's current markets.
UTMD company profile · for informational purposes only — not investment advice.
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