Mesa Laboratories (NASDAQ:MLAB) Hits New 52-Week High – Here’s What Happened

by · The Markets Daily

Mesa Laboratories, Inc. (NASDAQ:MLAB – Get Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $133.55 and last traded at $133.6950, with a volume of 52487 shares changing hands. The stock had previously closed at $131.87.

Analysts Set New Price Targets

Several brokerages have issued reports on MLAB. Wall Street Zen cut Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their price objective on shares of Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $110.00.

Get Our Latest Stock Report on MLAB

Mesa Laboratories Price Performance

The firm has a 50 day moving average price of $113.36 and a 200 day moving average price of $102.40. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market cap of $752.30 million, a P/E ratio of 159.95 and a beta of 0.97.

Mesa Laboratories (NASDAQ:MLAB – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.The company had revenue of $60.14 million during the quarter.

Mesa Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 31st. Mesa Laboratories’s dividend payout ratio (DPR) is presently 76.19%.

Insider Activity at Mesa Laboratories

In other Mesa Laboratories news, CEO Siddhartha Kadia purchased 7,093 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $112.80 per share, for a total transaction of $800,090.40. Following the purchase, the chief executive officer owned 7,093 shares of the company’s stock, valued at approximately $800,090.40. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Sullivan sold 7,093 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $112.80, for a total value of $800,090.40. Following the sale, the director directly owned 17,834 shares in the company, valued at approximately $2,011,675.20. This represents a 28.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Mesa Laboratories

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its stake in Mesa Laboratories by 110.0% in the second quarter. Allworth Financial LP now owns 523 shares of the medical instruments supplier’s stock worth $52,000 after purchasing an additional 274 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Mesa Laboratories during the fourth quarter worth $27,000. Quantinno Capital Management LP boosted its stake in shares of Mesa Laboratories by 17.9% during the first quarter. Quantinno Capital Management LP now owns 4,318 shares of the medical instruments supplier’s stock valued at $382,000 after purchasing an additional 657 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Mesa Laboratories in the second quarter worth about $87,000. Finally, Gabelli Funds LLC increased its stake in Mesa Laboratories by 2.9% in the 1st quarter. Gabelli Funds LLC now owns 62,499 shares of the medical instruments supplier’s stock worth $5,526,000 after buying an additional 1,775 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

(Get Free Report)

Mesa Laboratories, Inc develops, manufactures, and sells quality-control products and services used in healthcare, pharmaceutical, industrial, and other regulated environments. The company’s offerings are designed to help customers monitor processes, verify performance, and maintain compliance with applicable quality and safety requirements.

Mesa Laboratories’ products include biological indicators and other sterilization-assurance products used to evaluate sterilization processes in hospitals, dental practices, laboratories, and pharmaceutical manufacturing.

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