Mesa Laboratories (NASDAQ:MLAB) Sees Large Volume Increase - Still a Buy?

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 109,928 shares traded hands during trading, an increase of 113% from the previous session's volume of 51,716 shares.The stock last traded at $98.27 and had previously closed at $98.67.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company dropped their target price on Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating for the company in a research report on Friday, May 30th.

Mesa Laboratories Stock Up 3.0%

The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $108.42 and a 200 day simple moving average of $123.40. The company has a market cap of $549.44 million, a P/E ratio of -271.97 and a beta of 0.86.

Mesa Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.64%. Mesa Laboratories's payout ratio is -172.97%.

Insider Buying and Selling

In other Mesa Laboratories news, 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 directly owned 45,824 shares in the company, valued at approximately $4,450,426.88. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian David Archbold sold 472 shares of Mesa Laboratories stock in a transaction dated 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 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. Insiders have sold a total of 3,053 shares of company stock valued at $296,507 over the last quarter. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mesa Laboratories

Several institutional investors have recently bought and sold shares of MLAB. State of Wyoming lifted its holdings in Mesa Laboratories by 501.4% during the first quarter. State of Wyoming now owns 427 shares of the medical instruments supplier's stock worth $51,000 after buying an additional 356 shares during the period. Quantbot Technologies LP bought a new position in shares of Mesa Laboratories in the 1st quarter worth $67,000. Amundi lifted its stake in shares of Mesa Laboratories by 81.6% during the 4th quarter. Amundi now owns 661 shares of the medical instruments supplier's stock worth $91,000 after purchasing an additional 297 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Mesa Laboratories during the fourth quarter valued at about $92,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Mesa Laboratories during the fourth quarter valued at about $132,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.