Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares saw strong trading volume on Wednesday . 69,318 shares changed hands during trading, an increase of 54% from the previous session's volume of 44,876 shares.The stock last traded at $94.12 and had previously closed at $92.73.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on MLAB. Wells Fargo & Company dropped their target price on Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th. Wall Street Zen lowered Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th.
Get Our Latest Stock Analysis on Mesa Laboratories
Mesa Laboratories Trading Up 3.0%
The stock has a market capitalization of $523.18 million, a price-to-earnings ratio of -258.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.63. The company has a 50 day moving average of $110.56 and a 200 day moving average of $124.86.
Mesa Laboratories Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.67%. Mesa Laboratories's dividend payout ratio (DPR) is -172.97%.
Insider Transactions at Mesa Laboratories
In other Mesa Laboratories news, CEO Gary M. Owens sold 1,939 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $97.12, for a total transaction of $188,315.68. Following the completion of the sale, the chief executive officer now directly owns 45,824 shares in the company, valued at $4,450,426.88. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian David Archbold sold 472 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $45,840.64. Following the sale, the senior vice president now owns 558 shares of the company's stock, valued at $54,192.96. This represents a 45.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,053 shares of company stock valued at $296,507 over the last three months. 4.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Mesa Laboratories
Several institutional investors and hedge funds have recently added to or reduced their stakes in MLAB. Raymond James Financial Inc. purchased a new stake in shares of Mesa Laboratories in the fourth quarter worth about $32,677,000. Ameriprise Financial Inc. boosted its stake in shares of Mesa Laboratories by 191.8% during the 4th quarter. Ameriprise Financial Inc. now owns 151,862 shares of the medical instruments supplier's stock worth $20,026,000 after acquiring an additional 99,819 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Mesa Laboratories by 439.0% during the 1st quarter. Select Equity Group L.P. now owns 73,897 shares of the medical instruments supplier's stock worth $8,769,000 after acquiring an additional 60,186 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Mesa Laboratories by 1,390.4% in the fourth quarter. Jane Street Group LLC now owns 34,399 shares of the medical instruments supplier's stock worth $4,536,000 after buying an additional 32,091 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of Mesa Laboratories in the fourth quarter worth $3,512,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.
About Mesa Laboratories
(
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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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