Mesa Laboratories (NASDAQ:MLAB) Issues Earnings Results

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) released its quarterly earnings results on Wednesday. The medical instruments supplier reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $61.90 million.

Mesa Laboratories Trading Down 1.9%

Shares of NASDAQ:MLAB traded down $1.96 during midday trading on Friday, reaching $102.68. The company's stock had a trading volume of 42,219 shares, compared to its average volume of 40,239. The firm has a market cap of $557.96 million, a price-to-earnings ratio of -2.22 and a beta of 0.97. The business has a 50 day moving average price of $115.26 and a 200 day moving average price of $126.05. Mesa Laboratories has a 1 year low of $83.68 and a 1 year high of $155.12. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

Mesa Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, May 30th. Mesa Laboratories's dividend payout ratio (DPR) is -1.38%.

Insider Buying and Selling

In other news, CEO Gary M. Owens sold 21,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $123.91, for a total transaction of $2,602,110.00. Following the completion of the transaction, the chief executive officer now owns 43,337 shares of the company's stock, valued at $5,369,887.67. This represents a 32.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Mesa Laboratories by 3.6% during 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 worth $2,370,000 after purchasing an additional 685 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $364,000 after acquiring an additional 143 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Mesa Laboratories during the first quarter worth about $335,000. Finally, Royal Bank of Canada increased its stake in Mesa Laboratories by 1.2% during the first quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier's stock worth $3,652,000 after acquiring an additional 353 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price objective on Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating for the company in a research report on Friday.

Mesa Laboratories Company Profile

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.