Engineers Gate Manager LP Acquires 10,965 Shares of Mesa Laboratories, Inc. $MLAB

Key Points

• Engineers Gate Manager LP increased its Mesa Laboratories (MLAB) position by 291.2% in the second quarter, buying 10,965 additional shares and bringing its holdings to 14,731 shares valued at approximately $1.47 million. Institutional investors own 90.6% of the company.
• Mesa Laboratories insiders made notable purchases, including CEO Siddhartha Kadia’s acquisition of 7,093 shares for about $800,000 and Director R. Tripeny’s purchase of 900 shares for approximately $102,000. Insiders nevertheless sold 12,878 shares worth $1.32 million during the quarter.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $110 target price, below the stock’s reported $127.14 opening price. Mesa reported quarterly EPS of $2.68 on $60.14 million in revenue and pays a $0.16 quarterly dividend.

Engineers Gate Manager LP boosted its holdings in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 291.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,731 shares of the medical instruments supplier's stock after buying an additional 10,965 shares during the period. Engineers Gate Manager LP owned approximately 0.26% of Mesa Laboratories worth $1,466,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MLAB. Allworth Financial LP lifted its position in Mesa Laboratories by 110.0% in the 2nd quarter. Allworth Financial LP now owns 523 shares of the medical instruments supplier's stock valued at $52,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Mesa Laboratories during the 4th quarter worth approximately $27,000. Quantinno Capital Management LP increased its holdings in Mesa Laboratories by 17.9% during the 1st quarter. Quantinno Capital Management LP now owns 4,318 shares of the medical instruments supplier's stock worth $382,000 after purchasing an additional 657 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Mesa Laboratories by 7.9% in the fourth quarter. GSA Capital Partners LLP now owns 11,614 shares of the medical instruments supplier's stock worth $912,000 after purchasing an additional 846 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Mesa Laboratories in the second quarter worth approximately $87,000. 90.60% of the stock is owned by institutional investors.

Insider Transactions at Mesa Laboratories

In related news, CEO Siddhartha Kadia bought 7,093 shares of the company'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 purchase, the chief executive officer directly owned 7,093 shares in the company, valued at $800,090.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Tripeny bought 900 shares of Mesa Laboratories stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $113.69 per share, with a total value of $102,321.00. Following the completion of the transaction, the director directly owned 6,298 shares in the company, valued at approximately $716,019.62. This trade represents a 16.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 12,878 shares of company stock valued at $1,317,848. Corporate insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

MLAB has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Mesa Laboratories from $94.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. Weiss Ratings raised Mesa Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Mesa Laboratories presently has a consensus rating of "Hold" and a consensus target price of $110.00.

Mesa Laboratories Stock Performance

Shares of Mesa Laboratories stock opened at $127.14 on Friday. The business's fifty day simple moving average is $112.00 and its 200 day simple moving average is $101.88. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. Mesa Laboratories, Inc. has a 12 month low of $63.48 and a 12 month high of $132.70. The firm has a market capitalization of $711.98 million, a P/E ratio of 151.36 and a beta of 0.97.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. The firm 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 disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.64 annualized dividend and a yield of 0.5%. Mesa Laboratories's payout ratio is currently 76.19%.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, manufactures, and sells quality-control products and services used in healthcare, pharmaceutical, industrial, and other regulated environments. The company's offerings are designed to help customers monitor processes, verify performance, and maintain compliance with applicable quality and safety requirements.

Mesa Laboratories' products include biological indicators and other sterilization-assurance products used to evaluate sterilization processes in hospitals, dental practices, laboratories, and pharmaceutical manufacturing.

Want to see what other hedge funds are holding MLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.