Conestoga Capital Advisors LLC Buys 48,253 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

Conestoga Capital Advisors LLC raised its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,463 shares of the medical instruments supplier's stock after purchasing an additional 48,253 shares during the period. Conestoga Capital Advisors LLC owned 10.73% of Mesa Laboratories worth $60,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Mesa Laboratories by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 363,004 shares of the medical instruments supplier's stock worth $38,141,000 after purchasing an additional 2,276 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Mesa Laboratories by 22.0% during the 3rd quarter. Deutsche Bank AG now owns 2,933 shares of the medical instruments supplier's stock worth $308,000 after purchasing an additional 529 shares in the last quarter. Comerica Bank purchased a new stake in shares of Mesa Laboratories during the 3rd quarter worth about $4,849,000. Creative Planning purchased a new stake in shares of Mesa Laboratories during the 3rd quarter worth about $154,000. Finally, Royal Bank of Canada raised its stake in shares of Mesa Laboratories by 2.5% during the 3rd quarter. Royal Bank of Canada now owns 32,834 shares of the medical instruments supplier's stock worth $3,450,000 after purchasing an additional 803 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Mesa Laboratories Stock Performance

MLAB traded down $2.84 during midday trading on Wednesday, reaching $104.05. The company's stock had a trading volume of 39,938 shares, compared to its average volume of 50,473. The stock has a market cap of $560.83 million, a P/E ratio of 612.09 and a beta of 0.83. The company has a fifty day simple moving average of $103.33 and a 200 day simple moving average of $99.72. The company has a current ratio of 2.68, a quick ratio of 1.86 and a debt-to-equity ratio of 0.58. Mesa Laboratories, Inc. has a twelve month low of $82.86 and a twelve month high of $187.75.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last released its earnings results on Monday, February 5th. The medical instruments supplier reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.01). The business had revenue of $53.47 million during the quarter, compared to analyst estimates of $54.90 million. Mesa Laboratories had a net margin of 0.45% and a return on equity of 7.41%. Research analysts expect that Mesa Laboratories, Inc. will post 6.15 earnings per share for the current year.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, May 31st. Mesa Laboratories's dividend payout ratio (DPR) is currently 376.49%.

Analyst Ratings Changes

Separately, Evercore ISI increased their price objective on Mesa Laboratories from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, April 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.