Mesa Laboratories, Inc. (NASDAQ:MLAB – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $115.87 and last traded at $116.4080, with a volume of 39619 shares trading hands. The stock had previously closed at $107.94.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MLAB. Wall Street Zen downgraded Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their price target on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.00.
Check Out Our Latest Stock Analysis on MLAB
Mesa Laboratories Stock Up 8.4%
Mesa Laboratories (NASDAQ:MLAB – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 EPS for the quarter. The company had revenue of $60.14 million during the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.
Mesa Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Mesa Laboratories’s dividend payout ratio (DPR) is currently 76.19%.
Insider Activity
In related news, Director R Tony Tripeny acquired 900 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $113.69 per share, for a total transaction of $102,321.00. Following the completion of the acquisition, the director directly owned 6,298 shares of the company’s stock, valued at approximately $716,019.62. This represents a 16.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Siddhartha Kadia acquired 7,093 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $112.80 per share, for a total transaction of $800,090.40. Following the completion of the transaction, the chief executive officer owned 7,093 shares in the company, valued at approximately $800,090.40. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 15,370 shares of company stock worth $1,570,213. 2.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MLAB. Ranger Investment Management L.P. purchased a new stake in Mesa Laboratories in the second quarter worth $17,321,000. Globeflex Capital L P bought a new stake in shares of Mesa Laboratories during the 2nd quarter valued at $1,153,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Mesa Laboratories in the 2nd quarter worth about $15,507,000. Bank of New York Mellon Corp bought a new position in shares of Mesa Laboratories in the 2nd quarter worth about $4,540,000. Finally, Wasatch Advisors LP increased its stake in shares of Mesa Laboratories by 125.8% in the 2nd quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock worth $11,515,000 after acquiring an additional 64,435 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.
About Mesa Laboratories
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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