Mesa Laboratories (NASDAQ:MLAB) Share Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Mesa Laboratories' stock price fell below its two hundred day moving average of $91.93, trading as low as $71.86 before closing at $71.95.
• Equities analysts have downgraded Mesa Laboratories, with a consensus target price of $67.00 and an average rating of "Reduce."
• The company recently announced a quarterly dividend of $0.16 to be paid on December 15th, with a dividend yield of 0.9%.

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $91.93 and traded as low as $71.86. Mesa Laboratories shares last traded at $71.95, with a volume of 72,436 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company upgraded shares of Mesa Laboratories from an "underweight" rating to an "equal weight" rating and cut their price target for the stock from $100.00 to $67.00 in a research note on Thursday, August 7th. Zacks Research raised shares of Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Mesa Laboratories in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $67.00.

Mesa Laboratories Trading Down 1.8%

The company's fifty day moving average is $67.62 and its two-hundred day moving average is $91.93. The stock has a market cap of $395.73 million, a price-to-earnings ratio of -513.93 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.66 and a debt-to-equity ratio of 0.46.

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 28th. Mesa Laboratories's dividend payout ratio (DPR) is presently -457.14%.

Institutional Trading of Mesa Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Select Equity Group L.P. lifted its holdings in 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 buying an additional 60,186 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mesa Laboratories during the 2nd quarter worth about $2,370,000. Nuveen LLC acquired a new stake in shares of Mesa Laboratories during the 1st quarter worth about $2,305,000. GAMMA Investing LLC lifted its stake in Mesa Laboratories by 14,805.8% during the first quarter. GAMMA Investing LLC now owns 18,036 shares of the medical instruments supplier's stock worth $2,140,000 after purchasing an additional 17,915 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in Mesa Laboratories by 6.5% in the first quarter. Raymond James Financial Inc. now owns 264,013 shares of the medical instruments supplier's stock valued at $31,328,000 after purchasing an additional 16,218 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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