Mesa Laboratories, Inc. (NASDAQ:MLAB) Short Interest Update

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 196,300 shares, a decrease of 17.2% from the February 29th total of 237,200 shares. Based on an average daily volume of 52,800 shares, the days-to-cover ratio is presently 3.7 days.

Hedge Funds Weigh In On Mesa Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank bought a new position in Mesa Laboratories in the 3rd quarter worth approximately $4,849,000. L2 Asset Management LLC bought a new position in Mesa Laboratories in the 3rd quarter worth approximately $2,122,000. Kennedy Capital Management LLC grew its holdings in Mesa Laboratories by 42.0% in the 3rd quarter. Kennedy Capital Management LLC now owns 109,496 shares of the medical instruments supplier's stock worth $11,505,000 after buying an additional 32,412 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Mesa Laboratories by 6.2% in the third quarter. Qube Research & Technologies Ltd now owns 17,968 shares of the medical instruments supplier's stock worth $1,888,000 after purchasing an additional 1,042 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in Mesa Laboratories in the third quarter worth approximately $1,347,000. 90.60% of the stock is owned by institutional investors.

Mesa Laboratories Stock Performance

Shares of NASDAQ:MLAB traded up $2.48 during trading on Friday, hitting $109.73. 43,175 shares of the company traded hands, compared to its average volume of 36,907. The stock has a market capitalization of $591.88 million, a price-to-earnings ratio of 645.47 and a beta of 0.83. The business's fifty day moving average is $101.78 and its 200-day moving average is $100.59. Mesa Laboratories has a one year low of $82.86 and a one year high of $187.75. The company has a quick ratio of 1.86, a current ratio of 2.68 and a debt-to-equity ratio of 0.58.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last posted its earnings results on Monday, February 5th. The medical instruments supplier reported $1.46 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.01). Mesa Laboratories had a net margin of 0.45% and a return on equity of 7.41%. The company had revenue of $53.47 million for the quarter, compared to the consensus estimate of $54.90 million. As a group, equities analysts predict that Mesa Laboratories will post 6.15 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, February 28th. Mesa Laboratories's dividend payout ratio (DPR) is 376.47%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised Mesa Laboratories from an "in-line" rating to an "outperform" rating and upped their target price for the company from $100.00 to $125.00 in a report on Thursday, January 4th.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.