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Utah Medical Products, Inc. (UTMD) manufactures a wide range of specialized medical devices for the women's healthcare, neonatal, and intensive care markets.
Investment Thesis
Utah Medical is a masterclass in conservative management and high-margin niche dominance. The company focuses on essential, low-tech medical consumables (like fetal monitors and specialized catheters) that have extremely long product lifecycles and near-zero competition from major med-tech firms. Their defining characteristic is an almost unbelievable level of financial discipline: UTMD has zero debt and has historically operated with EBITDA margins in the high 30s. They don't chase expensive acquisitions or vanity growth; instead, they focus on hyper-efficient manufacturing and returning almost all of their cash to shareholders via dividends and buybacks. It is a medical device 'utility' at a value price.
Key Growth Drivers
Non-Discretionary Product Moat
Utah Medical's products are essential for high-stakes neonatal and labor & delivery care, ensuring stable demand regardless of the economic cycle.
Zero-Debt Financial Posture
With a massive cash pile and no debt, UTMD is virtually bulletproof and offers ultimate downside protection for conservative investors.
Elite Operating Efficiency
Management's focus on cost control and lean manufacturing results in profitability metrics that dwarf much larger medical device companies.
Valuation & Financial Modeling
UTMD trades at an attractive multiple when you adjust for its excess cash. While it is not a 'growth' story, it is one of the safest and most reliable cash-generating assets in the healthcare sector. It is a quintessential value stock.
Risk Factors & Bear Case
The primary risk is the low organic growth rate; the company prioritizes profitability over raw volume expansion. Additionally, as a micro-cap firm, liquidity in the stock is low.
Conclusion
Utah Medical Products is an essential holding for defensive value portfolios. It offers unmatched safety and a high-yield dividend backed by critical medical infrastructure. Rated 'Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
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Relative valuation derived from Healthcare sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
10.3%
Sector: -43.5%
Dividend Analysis audit
INCOME
2.13%
Trailing Yield
$2.13
Per $100 Invested
Solid dividend yield for income-focused strategies.
Est. Payout Ratio
35%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, UTAH MEDICAL PRODUCTS INC (UTMD) receives a "Hold" rating with a composite score of 49.8/100, ranked #1262 out of 4446 stocks. Key factor scores: Quality 50/100, Value 63/100, Momentum 51/100. This is quantitative analysis only — not investment advice.
UTAH MEDICAL PRODUCTS INC (UTMD) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does UTAH MEDICAL PRODUCTS INC Do?
Utah Medical Products, Inc. develops, manufactures, and distributes medical devices for the healthcare industry. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-HOOD infant respiratory hoods; and DELTRAN PLUS blood pressure monitoring systems. It also provides GESCO umbilical vessel catheters; DIALY-NATE disposable peritoneal dialysis sets; PALA-NATE silicone oral protection devices; URI-CATH urinary drainage systems; NUTRI-CATH\NUTRI-LOK feeding device; MYELO-NATE lumbar sampling kits; HEMO-NATE disposable filters; and catheterization procedure tray of instruments and supplies. In addition, the company offers LETZ system to excise cervical intraepithelial neoplasia and other lower genital tract lesions; FINESSE+ generators; loop, ball, and needle electrodes; FILTRESSE evacuators; other specialty electrodes and supplies, and gynecologic tools; Femcare trocars, cannulae, laparoscopic instruments, and accessories; and EPITOME and OptiMicro electrosurgical devices. Further, it provides Filshie Clip female surgical contraception devices; PATHFINDER PLUS endoscopic irrigation devices; suprapubic catheterization; LIBERTY urinary incontinence treatment and control systems; ENDOCURETTE, a curette for uterine endometrial tissue sampling; TVUS/HSG-Cath to assess abnormal or dysfunctional uterine bleeding and other abnormalities of uterus; and LUMIN tool to manipulate the uterus in laparoscopic procedures. Additionally, the company offers DELTRAN, a disposable pressure transducer; and pressure monitoring accessories, components, and other molded parts. It serves neonatal intensive care units, labor and delivery departments, women's health centers in hospitals, outpatient clinics, and physician's offices through direct customer service and sales force, independent consultants, and manufacturer representatives. The company was incorporated in 1978 and is headquartered in Midvale, Utah. UTAH MEDICAL PRODUCTS INC (UTMD) is classified as a micro-cap stock in the Healthcare sector, specifically within the Medical Equipment industry. The company is led by CEO Kevin L. Cornwell and employs approximately 180 people. With a market capitalization of $200M, UTMD is one of the notable companies in the Healthcare sector.
UTAH MEDICAL PRODUCTS INC (UTMD) Stock Rating — Hold (April 2026)
As of April 2026, UTAH MEDICAL PRODUCTS INC receives a Hold rating with a composite score of 49.8/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.UTMD ranks #1,262 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, UTAH MEDICAL PRODUCTS INC ranks #96 of 838 stocks, placing it in the top quartile of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
UTMD Stock Price and 52-Week Range
UTAH MEDICAL PRODUCTS INC (UTMD) currently trades at $64.86. The 52-week high for UTMD is $68.71, which means the stock is currently trading -5.6% from its annual peak. The 52-week low is $51.26, putting the stock 26.5% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is UTMD Overvalued or Undervalued? — Valuation Analysis
UTAH MEDICAL PRODUCTS INC (UTMD) carries a value factor score of 63/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 16.46x, compared to the Healthcare sector average of 23.63x — a discount of 30%. The price-to-book ratio stands at 1.69x, versus the sector average of 2.75x. The price-to-sales ratio is 5.12x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, UTMD trades at 16.43x EV/EBITDA, versus 6.34x for the sector.
Overall, UTMD's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
UTAH MEDICAL PRODUCTS INC Profitability — ROE, Margins, and Quality Score
UTAH MEDICAL PRODUCTS INC (UTMD) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 10.3%, compared to the Healthcare sector average of -43.5%, which is within a healthy range. Return on assets (ROA) comes in at 10.0% versus the sector average of -33.1%.
On a margin basis, UTAH MEDICAL PRODUCTS INC reports gross margins of 57.1%, compared to 71.5% for the sector. The operating margin is 31.1% (sector: -66.1%). Net profit margin stands at 31.1%, versus -58.7% for the average Healthcare stock. Revenue growth is running at -5.7% on a trailing basis, compared to 10.6% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
UTMD Debt, Balance Sheet, and Financial Health
UTAH MEDICAL PRODUCTS INC has a debt-to-equity ratio of 0.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 37.62x, indicating strong short-term liquidity. Total debt on the balance sheet is $0.
UTMD has a beta of 0.35, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for UTAH MEDICAL PRODUCTS INC is 87/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
UTAH MEDICAL PRODUCTS INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, UTAH MEDICAL PRODUCTS INC reported revenue of $39M and earnings per share (EPS) of $3.48. Net income for the quarter was $12M. Gross margin was 57.1%. Operating income came in at $12M.
In FY 2025, UTAH MEDICAL PRODUCTS INC reported revenue of $39M and earnings per share (EPS) of $3.48. Net income for the quarter was $11M. Gross margin was 57.1%. Revenue grew -5.8% year-over-year compared to FY 2024. Operating income came in at $11M.
In Q3 2025, UTAH MEDICAL PRODUCTS INC reported revenue of $10M and earnings per share (EPS) of $0.82. Net income for the quarter was $3M. Gross margin was 57.1%. Revenue grew -1.9% year-over-year compared to Q3 2024. Operating income came in at $3M.
In Q2 2025, UTAH MEDICAL PRODUCTS INC reported revenue of $10M and earnings per share (EPS) of $0.94. Net income for the quarter was $3M. Gross margin was 56.2%. Revenue grew -4.3% year-over-year compared to Q2 2024. Operating income came in at $3M.
Over the past 8 quarters, UTAH MEDICAL PRODUCTS INC has demonstrated a growth trajectory, with revenue expanding from $10M to $39M. Investors analyzing UTMD stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
UTMD Dividend Yield and Income Analysis
UTAH MEDICAL PRODUCTS INC (UTMD) currently pays a dividend yield of 2.1%. At this yield, a $10,000 investment in UTMD stock would generate approximately $$213.00 in annual dividend income. With a net margin of 31.1%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
UTMD Momentum and Technical Analysis Profile
UTAH MEDICAL PRODUCTS INC (UTMD) has a momentum factor score of 51/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 35/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 4/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
UTMD vs Competitors — Healthcare Sector Ranking and Peer Comparison
Comparing UTMD against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full UTMD vs S&P 500 (SPY) comparison to assess how UTAH MEDICAL PRODUCTS INC stacks up against the broader market across all factor dimensions.
UTMD Next Earnings Date
No upcoming earnings date has been announced for UTAH MEDICAL PRODUCTS INC (UTMD) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy UTMD? — Investment Thesis Summary
UTAH MEDICAL PRODUCTS INC presents a balanced picture with arguments on both sides. The value score of 63/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 87/100) reduces downside risk.
In summary, UTAH MEDICAL PRODUCTS INC (UTMD) earns a Hold rating with a composite score of 49.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on UTMD stock.
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Execution Benchmarks audit
Revenue Growth
YOY expansion rate
-5.7%
Sector: 10.6%
-153% VS SCTR
Gross Margin
Core pricing power
57.1%
Sector: 71.5%
-20% VS SCTR
Operating Margin
Operating efficiency
31.1%
Sector: -66.1%
-147% VS SCTR
Net Margin
Bottom-line conversion
31.1%
Sector: -58.7%
-153% VS SCTR
Return on Equity
Equity capital efficiency
10.3%
Sector: -43.5%
-124% VS SCTR
Return on Assets
Asset base utilization
10.0%
Sector: -33.1%
-130% VS SCTR
Debt/Equity
Financial leverage load
0.0%
Sector: 32.0%
+100% VS SCTR
Dividend Yield
Direct cash return
2.1%
Sector: 0.0%
+Infinity% VS SCTR
-39%
Price / Sales
5.1x
+208%
UTAH MEDICAL PRODUCTS INC exhibits a 75% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
10.0%
Sector: -33.1%
Gross Margin
Pricing power and cost efficiency
57.1%
Sector: 71.5%
Operating Margin
Core business profitability
31.1%
Sector: -66.1%
Net Margin
Bottom-line profitability
31.1%
Sector: -58.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $213 annually in dividends at the current trailing rate.