Utah Medical Products, Inc. (UTMD) | Investment Case

1. Company Snapshot

1.a. Company Description

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.

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1.b. Last Insights on UTMD

Negative drivers behind Utah Medical Products' recent performance include a decline in sales from a key U.S. customer, weaker performance in international markets, and ongoing litigation. The company's Q4 EPS dropped 27.4% year-over-year, and revenues fell 25.8% due to weak PendoTECH sales. Additionally, the company's stock price has declined due to these challenges, despite its consistent track record of profitability and fortress balance sheet.

1.c. Company Highlights

Last Price	56.01
Change Percentage	0.04%
Open	56.15
Previous Close	55.99
Market Cap ( Millions)	179
Volume	17438
Year High	65.56
Year Low	51.26
M A 50	58.76
M A 200	57.38

FCF Yield	7.81%
Dividend Yield	2.18%
ROE	9.88%
Debt / Equity	0.20%
Net Debt / EBIDTA	-532.52%
Price To Book	1.57
Price Earnings Ratio	15.95
Price To FCF	12.8
Price To sales	4.64
EV / EBITDA	6.05

2. Transcript Summary

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3. NewsRoom

Utah Medical Products, Inc. Appoints Director and Increases Quarterly Dividend

Nov -04

Source: accessnewswire.com

UTMD's Q3 Earnings Dip Y/Y on Trade Disruptions, Margins Squeeze

Oct -29

Source: zacks.com

UTMD Reports Financial Performance for Third Calendar Quarter and Nine Months 2025

Oct -23

Source: accessnewswire.com

UTMD's Q2 Earnings Slip Y/Y Due to Falling OEM Sales, Stock Down 3%

Jul -30

Source: zacks.com

Utah Medical Products, Inc. Announces Quarterly Dividend

Jul -29

Source: accessnewswire.com

Utah Medical Products Reports Q2 Decline

Jul -25

Source: fool.com

UTMD Reports Financial Performance for Second Calendar Quarter and First Half 2025

Jul -24

Source: accessnewswire.com

Utah Medical Products: Deep Discount Is Drawing One Legendary Investor's Interest

Jul -03

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.42%)

6. Segments

Gynecology/Electrosurgery/Urology

Expected Growth: 7.8%

Growing demand for minimally invasive procedures, increasing prevalence of urological disorders, and advancements in electrosurgical technologies drive the growth of the Gynecology/Electrosurgery/Urology segment.

Blood Pressure Monitoring and Accessories

Expected Growth: 4.8%

Growing demand for accurate blood pressure monitoring, increasing prevalence of hypertension, and advancements in medical technology drive the market growth.

Neonatal

Expected Growth: 5.5%

Growing demand for advanced fetal and neonatal care, increasing birth rates, and rising awareness of neonatal health issues drive the market growth of Neonatal from Utah Medical Products, Inc.

Obstetrics

Expected Growth: 6.8%

Growing demand for prenatal care, increasing birth rates, and advancements in medical technology drive the obstetrics market growth, with Utah Medical Products, Inc. well-positioned to capitalize on these trends.

7. Detailed Products

Foley Catheters

A medical device used to drain the urinary bladder and facilitate urine flow

Urology Catheters

A range of catheters designed for urological procedures and surgeries

Electrosurgical Instruments

Surgical instruments used to cut and coagulate tissue during surgical procedures

Gynecologic Surgical Instruments

Surgical instruments used in gynecological procedures and surgeries

Blood Pressure Monitoring Systems

Devices used to measure and monitor blood pressure in patients

Stabilization and Positioning Devices

Devices used to stabilize and position patients during surgical procedures

OEM Medical Components

Custom medical components designed and manufactured for other medical device companies

8. Utah Medical Products, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Utah Medical Products, Inc. operates in a niche market with limited substitutes, but there are some alternatives available, making the threat of substitutes medium.

Bargaining Power Of Customers

Utah Medical Products, Inc. has a diverse customer base, and no single customer accounts for a significant portion of its revenue, reducing the bargaining power of customers.

Bargaining Power Of Suppliers

Utah Medical Products, Inc. relies on a few key suppliers for its raw materials, giving them some bargaining power, but the company's diversified supplier base mitigates this risk.

Threat Of New Entrants

The medical device industry has high barriers to entry, including regulatory hurdles and significant capital requirements, making it difficult for new entrants to compete with Utah Medical Products, Inc.

Intensity Of Rivalry

The medical device industry is highly competitive, with many established players competing for market share, making the intensity of rivalry high for Utah Medical Products, Inc.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	0.27%
Debt Cost	3.95%
Equity Weight	99.73%
Equity Cost	4.69%
WACC	4.68%
Leverage	0.27%

11. Quality Control: Utah Medical Products, Inc. passed 7 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Utah Medical Products

A-Score: 5.4/10

Value: 4.7

Growth: 3.0

Quality: 8.4

Yield: 4.0

Momentum: 3.5

Volatility: 9.0

1-Year Total Return ->

Pro-Dex

A-Score: 5.2/10

Value: 6.7

Growth: 6.0

Quality: 7.6

Yield: 0.0

Momentum: 9.0

Volatility: 1.7

1-Year Total Return ->

LeMaitre Vascular

A-Score: 4.8/10

Value: 1.2

Growth: 7.4

Quality: 7.0

Yield: 2.0

Momentum: 4.0

Volatility: 7.0

1-Year Total Return ->

Warby Parker

A-Score: 4.5/10

Value: 3.3

Growth: 7.4

Quality: 4.1

Yield: 0.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

Nephros

A-Score: 4.4/10

Value: 1.4

Growth: 6.3

Quality: 7.7

Yield: 0.0

Momentum: 10.0

Volatility: 1.0

1-Year Total Return ->

OraSure Technologies

A-Score: 3.4/10

Value: 7.1

Growth: 4.2

Quality: 5.0

Yield: 0.0

Momentum: 1.0

Volatility: 3.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-6.89%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

4.68%

Utah Medical Products, Inc. - US9174881089

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on UTMD

1.c. Company Highlights

Better Quality

Less Volatile

Higher Yield

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.42%)

6. Segments

Gynecology/Electrosurgery/Urology

Expected Growth: 7.8%

Blood Pressure Monitoring and Accessories

Expected Growth: 4.8%

Neonatal

Expected Growth: 5.5%

Obstetrics

Expected Growth: 6.8%

7. Detailed Products

Foley Catheters

Urology Catheters

Electrosurgical Instruments

Gynecologic Surgical Instruments

Blood Pressure Monitoring Systems

Stabilization and Positioning Devices

OEM Medical Components

8. Utah Medical Products, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Utah Medical Products, Inc. passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

56.01$

Current Price

56.01$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA