Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 162,103 shares were traded during trading, an increase of 298% from the previous session's volume of 40,759 shares.The stock last traded at $98.92 and had previously closed at $100.93.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating on the stock in a research note on Friday, May 30th. Wall Street Zen downgraded shares of Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th.
Check Out Our Latest Analysis on MLAB
Mesa Laboratories Stock Performance
The business has a 50-day moving average price of $113.27 and a 200-day moving average price of $125.94. The firm has a market capitalization of $567.27 million, a price-to-earnings ratio of -2.25 and a beta of 0.97. 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 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Friday, May 30th. Mesa Laboratories's dividend payout ratio is presently -172.97%.
Insider Buying and Selling at Mesa Laboratories
In other news, CEO Gary M. Owens sold 21,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total value of $2,602,110.00. Following the completion of the transaction, the chief executive officer now directly owns 43,337 shares in the company, valued at $5,369,887.67. This trade represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.
Institutional Trading of Mesa Laboratories
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in shares of Mesa Laboratories by 4.4% during the 1st quarter. Rhumbline Advisers now owns 13,628 shares of the medical instruments supplier's stock valued at $1,617,000 after buying an additional 570 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $2,370,000 after acquiring an additional 685 shares in the last quarter. Select Equity Group L.P. raised its position in Mesa Laboratories by 439.0% during the first quarter. Select Equity Group L.P. now owns 73,897 shares of the medical instruments supplier's stock valued at $8,769,000 after acquiring an additional 60,186 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mesa Laboratories by 4.9% in 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. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Mesa Laboratories in the 1st quarter worth approximately $335,000. Institutional investors and hedge funds own 90.60% of the company's stock.
About Mesa Laboratories
(
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
Before you consider Mesa Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mesa Laboratories wasn't on the list.
While Mesa Laboratories currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
