Mesa Laboratories, Inc. (NASDAQ:MLAB) Given Average Rating of “Buy” by Brokerages

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Mesa Laboratories, Inc. (NASDAQ:MLAB) has received an average recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $262.50.

MLAB has been the subject of several recent research reports. TheStreet downgraded Mesa Laboratories from a “b-” rating to a “c” rating in a research note on Monday, February 10th. ValuEngine downgraded Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Jefferies Financial Group started coverage on Mesa Laboratories in a research note on Wednesday, December 4th. They issued a “buy” rating and a $275.00 target price for the company. Zacks Investment Research downgraded Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, BidaskClub downgraded Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th.

NASDAQ MLAB opened at $261.84 on Monday. The business has a fifty day moving average price of $259.30 and a 200 day moving average price of $238.72. Mesa Laboratories has a one year low of $181.21 and a one year high of $271.11.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, February 10th. The medical instruments supplier reported ($1.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($1.94). The company had revenue of $31.66 million during the quarter, compared to analysts’ expectations of $31.05 million. On average, sell-side analysts forecast that Mesa Laboratories will post 6.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 28th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, February 27th.

In related news, Director John Bradley Schmieder sold 700 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $238.06, for a total transaction of $166,642.00. Following the completion of the sale, the director now directly owns 75,119 shares of the company’s stock, valued at approximately $17,882,829.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert V. Dwyer sold 1,367 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $258.72, for a total value of $353,670.24. Following the sale, the director now directly owns 41,829 shares of the company’s stock, valued at $10,821,998.88. The disclosure for this sale can be found here. Insiders sold a total of 9,567 shares of company stock valued at $2,405,137 over the last ninety days. Corporate insiders own 10.03% of the company’s stock.

Large investors have recently modified their holdings of the stock. Ceredex Value Advisors LLC acquired a new stake in shares of Mesa Laboratories during the 4th quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Mesa Laboratories during the 3rd quarter worth about $35,000. SRS Capital Advisors Inc. acquired a new stake in shares of Mesa Laboratories during the 4th quarter worth about $59,000. Panagora Asset Management Inc. acquired a new stake in shares of Mesa Laboratories during the 4th quarter worth about $94,000. Finally, Bank of Montreal Can increased its position in shares of Mesa Laboratories by 49.5% during the 4th quarter. Bank of Montreal Can now owns 710 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 235 shares during the last quarter. 90.70% of the stock is owned by hedge funds and other institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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