Mesa Laboratories (NASDAQ:MLAB) Shares Climb 6.6% – What’s Next?

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price was up 6.6% on Tuesday. The company traded as high as $137.76 and last traded at $136.2590. 52,669 shares were traded during trading, a decline of 62% from the average session volume of 140,150 shares. The stock had previously closed at $127.82.

Wall Street Analyst Weigh In

MLAB has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Wall Street Zen raised Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Finally, Weiss Ratings upgraded Mesa Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Mesa Laboratories currently has a consensus rating of “Hold” and a consensus target price of $110.00.

Mesa Laboratories Stock Up 3.3%

The business’s 50 day moving average is $128.27 and its 200-day moving average is $105.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32. The company has a market cap of $739.31 million, a PE ratio of 157.17 and a beta of 1.08.

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

Mesa Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.5%. Mesa Laboratories’s payout ratio is presently 76.19%.

Insider Activity at Mesa Laboratories

In other Mesa Laboratories news, Director John Sullivan sold 7,093 shares of Mesa Laboratories stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $112.80, for a total transaction of $800,090.40. Following the completion of the sale, the director directly owned 17,834 shares of the company’s stock, valued at $2,011,675.20. The trade was a 28.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Tripeny purchased 900 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $113.69 per share, with a total value of $102,321.00. Following the completion of the acquisition, the director directly owned 6,298 shares in the company, valued at $716,019.62. The trade was a 16.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in MLAB. Ranger Investment Management L.P. purchased a new stake in Mesa Laboratories during the second quarter worth approximately $17,321,000. William Blair Investment Management LLC purchased a new position in Mesa Laboratories in the third quarter valued at approximately $16,934,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mesa Laboratories during the second quarter worth approximately $15,507,000. Aberdeen Group plc acquired a new stake in Mesa Laboratories during the third quarter worth approximately $13,137,000. Finally, Wasatch Advisors LP raised its holdings in Mesa Laboratories by 125.8% during the second quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock worth $11,515,000 after purchasing an additional 64,435 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc. develops and manufactures products used for quality control, monitoring, and measurement in healthcare, pharmaceutical, industrial, and other regulated applications. The company’s offerings are designed to help customers verify the performance of processes, equipment, and environmental conditions. Mesa Laboratories’ product portfolio includes sterilization assurance products, such as biological indicators and related monitoring systems, as well as instruments and consumables used in healthcare and laboratory settings.