Zacks Investment Research Downgrades Mesa Laboratories (NASDAQ:MLAB) to Strong Sell

Zacks Investment Research cut shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a strong sell rating in a research note published on Friday, November 10th.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

Other analysts also recently issued research reports about the stock. TheStreet raised shares of Mesa Laboratories from a c+ rating to a b rating in a research report on Monday, November 6th. BidaskClub downgraded shares of Mesa Laboratories from a hold rating to a sell rating in a report on Monday, July 31st.

Shares of Mesa Laboratories (NASDAQ:MLAB) traded down $0.15 during midday trading on Friday, reaching $134.80. 22,900 shares of the company were exchanged, compared to its average volume of 15,773. The company has a current ratio of 2.86, a quick ratio of 1.97 and a debt-to-equity ratio of 0.48. Mesa Laboratories has a 1-year low of $113.57 and a 1-year high of $169.80. The company has a market cap of $499.57, a price-to-earnings ratio of 34.97 and a beta of 0.49.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings data on Monday, November 6th. The medical instruments supplier reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Mesa Laboratories had a return on equity of 9.15% and a net margin of 10.25%. The company had revenue of $22.95 million for the quarter, compared to analyst estimates of $25.50 million. analysts predict that Mesa Laboratories will post 2.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Wednesday, November 29th. Mesa Laboratories’s payout ratio is 23.10%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Analysts LLC bought a new stake in shares of Mesa Laboratories during the 3rd quarter worth $128,000. SG Americas Securities LLC bought a new stake in shares of Mesa Laboratories during the 3rd quarter worth $131,000. Voya Investment Management LLC bought a new stake in shares of Mesa Laboratories during the 2nd quarter worth $221,000. Westfield Capital Management Co. LP bought a new stake in shares of Mesa Laboratories during the 3rd quarter worth $239,000. Finally, Strs Ohio raised its stake in shares of Mesa Laboratories by 5.6% during the 2nd quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock worth $272,000 after purchasing an additional 100 shares during the period. Institutional investors own 69.74% of the company’s stock.

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About Mesa Laboratories

Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.

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