Mesa Laboratories (NASDAQ:MLAB) Reaches New 1-Year High at $309.05

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $309.05 and last traded at $306.81, with a volume of 1538 shares changing hands. The stock had previously closed at $302.92.

Separately, Zacks Investment Research cut shares of Mesa Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 17th.

The company has a market cap of $1.60 billion, a P/E ratio of 409.35 and a beta of 0.38. The stock’s 50-day moving average is $278.49 and its two-hundred day moving average is $263.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 9.43 and a quick ratio of 9.06.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st will be given a dividend of $0.16 per share. The ex-dividend date is Monday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.21%. Mesa Laboratories’s dividend payout ratio (DPR) is 12.21%.

In other Mesa Laboratories news, SVP Brian David Archbold sold 639 shares of the stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $280.03, for a total value of $178,939.17. Following the transaction, the senior vice president now directly owns 154 shares in the company, valued at $43,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Sakys sold 1,000 shares of the firm’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $278.77, for a total transaction of $278,770.00. Following the sale, the chief financial officer now owns 8,514 shares in the company, valued at $2,373,447.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,854 shares of company stock worth $4,087,169. 5.10% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in MLAB. First Trust Advisors LP bought a new stake in shares of Mesa Laboratories during the 1st quarter valued at $567,000. Victory Capital Management Inc. raised its position in shares of Mesa Laboratories by 458.6% during the 1st quarter. Victory Capital Management Inc. now owns 11,167 shares of the medical instruments supplier’s stock valued at $2,719,000 after purchasing an additional 9,168 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Mesa Laboratories by 37.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,874 shares of the medical instruments supplier’s stock valued at $1,917,000 after purchasing an additional 2,165 shares during the period. Alliancebernstein L.P. raised its position in shares of Mesa Laboratories by 0.7% during the 1st quarter. Alliancebernstein L.P. now owns 13,764 shares of the medical instruments supplier’s stock valued at $3,352,000 after purchasing an additional 100 shares during the period. Finally, Rhumbline Advisers grew its stake in Mesa Laboratories by 2.3% during the first quarter. Rhumbline Advisers now owns 13,655 shares of the medical instruments supplier’s stock valued at $3,325,000 after acquiring an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Mesa Laboratories Company Profile (NASDAQ:MLAB)

Mesa Laboratories, Inc engages in the design, manufacture, and market of instruments and disposable products utilized in healthcare, pharmaceutical, food and beverage, medical device, and petrochemical industries. It operates through the following segments: Sterilization and Disinfection Control, Instruments, Continuous Monitoring, and Biopharmaceutical Development.

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