Raymond James Financial Inc. Acquires 16,218 Shares of Mesa Laboratories, Inc. $MLAB

Key Points

• Raymond James Financial Inc. increased its stake in Mesa Laboratories, Inc. by 6.5%, owning a total of 264,013 shares valued at approximately $31.3 million as of the latest SEC filing.
• Analysts have mixed ratings for Mesa Laboratories, with an average rating of "Hold" and a consensus price target of $113.50.
• Mesa Laboratories announced a quarterly dividend of $0.16, representing an annualized yield of 0.9%, with the ex-dividend date on August 29th.

Raymond James Financial Inc. lifted its position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,013 shares of the medical instruments supplier's stock after buying an additional 16,218 shares during the quarter. Raymond James Financial Inc. owned about 4.86% of Mesa Laboratories worth $31,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Mesa Laboratories by 40.2% during the first quarter. American Century Companies Inc. now owns 13,237 shares of the medical instruments supplier's stock worth $1,571,000 after purchasing an additional 3,793 shares during the period. Public Sector Pension Investment Board raised its stake in Mesa Laboratories by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 17,256 shares of the medical instruments supplier's stock valued at $2,048,000 after purchasing an additional 3,679 shares in the last quarter. Nuveen LLC bought a new position in Mesa Laboratories in the first quarter valued at about $2,305,000. Herald Investment Management Ltd grew its position in Mesa Laboratories by 68.5% in the first quarter. Herald Investment Management Ltd now owns 12,500 shares of the medical instruments supplier's stock valued at $1,483,000 after acquiring an additional 5,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Mesa Laboratories by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 65,464 shares of the medical instruments supplier's stock valued at $7,768,000 after acquiring an additional 2,875 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLAB. Wells Fargo & Company upgraded Mesa Laboratories from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $100.00 to $67.00 in a report on Thursday, August 7th. Wall Street Zen lowered Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $113.50.

Mesa Laboratories Stock Up 0.5%

NASDAQ MLAB traded up $0.35 on Friday, reaching $67.75. The company had a trading volume of 102,083 shares, compared to its average volume of 120,631. The stock has a market capitalization of $372.63 million, a P/E ratio of -483.93 and a beta of 0.83. The company's fifty day moving average is $78.37 and its 200 day moving average is $104.99. Mesa Laboratories, Inc. has a 52-week low of $55.45 and a 52-week high of $155.12. The company has a quick ratio of 0.47, a current ratio of 0.66 and a debt-to-equity ratio of 0.46.

Mesa Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 29th. Mesa Laboratories's dividend payout ratio is presently -457.14%.

Insider Activity at Mesa Laboratories

In related news, CFO John Sakys sold 642 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $62,351.04. Following the completion of the sale, the chief financial officer directly owned 12,865 shares of the company's stock, valued at approximately $1,249,448.80. This represents a 4.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian David Archbold sold 472 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $97.12, for a total value of $45,840.64. Following the completion of the sale, the senior vice president directly owned 558 shares of the company's stock, valued at $54,192.96. The trade was a 45.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,053 shares of company stock valued at $296,507. 4.90% of the stock is owned by insiders.

About Mesa Laboratories

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.