Mesa Laboratories, Inc. (NASDAQ:MLAB – Get Free Report) saw an uptick in trading volume on Tuesday . Approximately 255,936 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 145,662 shares.The stock last traded at $104.31 and had previously closed at $101.62.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.00.
Read Our Latest Analysis on Mesa Laboratories
Mesa Laboratories Stock Performance
Mesa Laboratories (NASDAQ:MLAB – Get Free Report) last released its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. The company had revenue of $60.14 million during the quarter. Mesa Laboratories had a return on equity of 22.87% and a net margin of 1.92%.
Mesa Laboratories Announces Dividend
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 given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 0.6%. Mesa Laboratories’s payout ratio is presently 53.33%.
Insiders Place Their Bets
In other news, CAO Lyndsey Elizabeth Crennen sold 442 shares of the business’s stock in a transaction on 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 $180,790. The trade was a 17.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO John Sakys sold 2,827 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $253,016.50. Following the transaction, the chief financial officer owned 19,785 shares in the company, valued at approximately $1,770,757.50. This represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 8,277 shares of company stock worth $770,122 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of MLAB. Northwestern Mutual Wealth Management Co. grew its stake in shares of Mesa Laboratories by 5,366.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 322 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Mesa Laboratories during the 4th quarter valued at $27,000. Kestra Advisory Services LLC bought a new stake in Mesa Laboratories in the fourth quarter worth $55,000. BNP Paribas Financial Markets increased its position in Mesa Laboratories by 30.9% during the third 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 holdings in Mesa Laboratories by 432.9% during the second quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier’s stock valued at $79,000 after buying an additional 684 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.
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.
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