Mesa Laboratories (NASDAQ:MLAB) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a hold rating in a report published on Friday morning.

Other research analysts have also recently issued reports about the stock. Evercore ISI upped their price objective on shares of Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of Mesa Laboratories in a research report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price target on the stock.

Mesa Laboratories Trading Up 2.1 %

Shares of Mesa Laboratories stock opened at $135.91 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $127.88 and its 200-day moving average price is $113.06. The company has a market cap of $735.14 million, a price-to-earnings ratio of -2.88 and a beta of 0.85. Mesa Laboratories has a 12-month low of $82.86 and a 12-month high of $141.17.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.55. The company had revenue of $58.17 million for the quarter, compared to analysts’ expectations of $55.90 million. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. On average, equities analysts expect that Mesa Laboratories will post 7.91 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s payout ratio is -1.36%.

Insider Buying and Selling

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mesa Laboratories

Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in Mesa Laboratories during the 2nd quarter valued at $26,000. EntryPoint Capital LLC lifted its holdings in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 193 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Mesa Laboratories during the 2nd quarter valued at $183,000. SG Americas Securities LLC bought a new position in shares of Mesa Laboratories during the 3rd quarter valued at $302,000. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Mesa Laboratories by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock valued at $226,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.