Mesa Laboratories (NASDAQ:MLAB) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Mesa Laboratories (NASDAQ:MLAB) from a strong-buy rating to a buy rating in a research report released on Saturday.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lifted their price objective on Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday. Weiss Ratings raised Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $110.00.

Mesa Laboratories Stock Down 6.3%

Shares of Mesa Laboratories stock opened at $106.04 on Friday. The company has a market cap of $593.82 million, a P/E ratio of 126.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.29 and a current ratio of 1.79. Mesa Laboratories has a one year low of $58.83 and a one year high of $115.52. The firm has a fifty day moving average of $100.64 and a two-hundred day moving average of $95.97.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share for the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%. The business had revenue of $60.14 million for the quarter.

Mesa Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.16 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 0.6%. Mesa Laboratories’s dividend payout ratio (DPR) is 76.19%.

Insider Buying and Selling

In other Mesa Laboratories news, CAO Lyndsey Elizabeth Crennen sold 442 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $39,559.00. Following the transaction, the chief accounting officer directly owned 2,020 shares in the company, valued at approximately $180,790. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian David Archbold sold 2,516 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $225,182.00. Following the completion of the transaction, the senior vice president directly owned 6,377 shares of the company’s stock, valued at approximately $570,741.50. This trade represents a 28.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,277 shares of company stock valued at $770,122. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

Several hedge funds have recently bought and sold shares of MLAB. Northwestern Mutual Wealth Management Co. boosted its position in Mesa Laboratories by 5,366.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 322 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Mesa Laboratories in the fourth quarter valued at $27,000. Kestra Advisory Services LLC purchased a new position in shares of Mesa Laboratories in the fourth quarter valued at $55,000. BNP Paribas Financial Markets raised its stake in shares of Mesa Laboratories by 30.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 243 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Mesa Laboratories by 432.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier’s stock worth $79,000 after buying an additional 684 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.