Mesa Laboratories (NASDAQ:MLAB - Get Free Report) issued its quarterly earnings results on Wednesday. The medical instruments supplier reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($1.10), Zacks reports. Mesa Laboratories had a positive return on equity of 30.23% and a negative net margin of 104.92%. The company had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.90 million.
Mesa Laboratories Stock Down 1.9%
NASDAQ MLAB traded down $1.96 on Friday, reaching $102.68. The company had a trading volume of 42,219 shares, compared to its average volume of 39,912. The company's fifty day moving average is $115.26 and its 200-day moving average is $126.17. The firm has a market capitalization of $557.96 million, a price-to-earnings ratio of -2.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.53 and a current ratio of 0.71. Mesa Laboratories has a 1-year low of $83.68 and a 1-year high of $155.12.
Mesa Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. Mesa Laboratories's payout ratio is -1.38%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on MLAB shares. Wall Street Zen downgraded Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday. Wells Fargo & Company decreased their price objective on shares of Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating for the company in a report on Friday.
Get Our Latest Report on MLAB
Insider Buying and Selling at Mesa Laboratories
In related news, CEO Gary M. Owens sold 21,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total transaction of $2,602,110.00. Following the sale, the chief executive officer now owns 43,337 shares in the company, valued at approximately $5,369,887.67. This represents a 32.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Mesa Laboratories in the 1st quarter valued at approximately $335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mesa Laboratories by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier's stock worth $364,000 after acquiring an additional 143 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Mesa Laboratories by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 19,977 shares of the medical instruments supplier's stock valued at $2,370,000 after acquiring an additional 685 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Mesa Laboratories by 1.2% in the 1st quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier's stock valued at $3,652,000 after acquiring an additional 353 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.
Mesa Laboratories Company Profile
(
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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.
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