Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 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.
Analysts Set New Price Targets
Several research firms recently issued reports on MLAB. Wall Street Zen downgraded Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Wells Fargo & Company reduced their price target 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.
View Our Latest Stock Analysis on Mesa Laboratories
Mesa Laboratories Stock Up 2.5%
The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $111.75 and a 200 day simple moving average of $125.47. The firm has a market capitalization of $519.06 million, a P/E ratio of -257.01 and a beta of 0.88.
Mesa Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, May 30th. Mesa Laboratories's dividend payout ratio (DPR) is -172.97%.
Insider Transactions at Mesa Laboratories
In other Mesa Laboratories news, SVP Brian David Archbold sold 472 shares of the company's stock in a transaction on Monday, June 16th. The stock was 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 now directly owns 558 shares in the company, valued at approximately $54,192.96. This represents a 45.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary M. Owens sold 1,939 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $188,315.68. Following the completion of the sale, the chief executive officer now owns 45,824 shares of the company's stock, valued at $4,450,426.88. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,053 shares of company stock worth $296,507. 4.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Mesa Laboratories
A number of hedge funds have recently made changes to their positions in MLAB. State of Wyoming raised its stake in Mesa Laboratories by 501.4% in the first quarter. State of Wyoming now owns 427 shares of the medical instruments supplier's stock valued at $51,000 after buying an additional 356 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Mesa Laboratories during the first quarter worth about $67,000. Amundi grew its holdings in Mesa Laboratories by 81.6% during the fourth quarter. Amundi now owns 661 shares of the medical instruments supplier's stock worth $91,000 after acquiring an additional 297 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Mesa Laboratories during the fourth quarter worth approximately $92,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Mesa Laboratories during the fourth quarter worth approximately $132,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Mesa Laboratories Company Profile
(
Get Free Report)
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.
Further Reading
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