Mesa Laboratories (NASDAQ:MLAB) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Mesa Laboratories shares rose above their 200-day moving average, reaching $128.27 and last trading at $125.16, compared with a 200-day average of $109.41.
• Analysts maintain a consensus “Hold” rating with a $110 price target, below the stock’s recent trading level; the company reported $2.68 in quarterly EPS on $60.14 million in revenue.
• Mesa declared a quarterly dividend of $0.16 per share, representing a 0.5% yield, while insiders bought shares and institutional investors increased holdings; institutions own 90.6% of the stock.

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $109.41 and traded as high as $128.27. Mesa Laboratories shares last traded at $125.16, with a volume of 77,216 shares changing hands.

Wall Street Analyst Weigh In

MLAB has been the topic of a number of research reports. Wall Street Zen raised Mesa Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 3rd. Wells Fargo & Company raised their price target on shares of Mesa Laboratories from $94.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. Finally, Weiss Ratings raised Mesa Laboratories from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $110.00.

Mesa Laboratories Trading Up 1.5%

The firm has a 50-day simple moving average of $126.04 and a 200-day simple moving average of $109.41. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market cap of $700.40 million, a PE ratio of 149.00 and a beta of 1.06.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last posted its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share for the quarter. The business had revenue of $60.14 million during the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.

Mesa Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.5%. Mesa Laboratories's dividend payout ratio (DPR) is currently 76.19%.

Insider Activity

In related news, CEO Siddhartha Kadia bought 7,093 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $112.80 per share, for a total transaction of $800,090.40. Following the completion of the transaction, the chief executive officer owned 7,093 shares of the company's stock, valued at approximately $800,090.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Tripeny acquired 900 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $113.69 per share, with a total value of $102,321.00. Following the completion of the acquisition, the director directly owned 6,298 shares in the company, valued at approximately $716,019.62. This represents a 16.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Mesa Laboratories

A number of institutional investors have recently made changes to their positions in the business. Ranger Investment Management L.P. purchased a new stake in Mesa Laboratories during the second quarter valued at about $17,321,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Mesa Laboratories in the 2nd quarter worth approximately $15,507,000. Wasatch Advisors LP boosted its holdings in Mesa Laboratories by 125.8% in the second quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier's stock valued at $11,515,000 after acquiring an additional 64,435 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mesa Laboratories by 7.1% during the first quarter. Dimensional Fund Advisors LP now owns 124,630 shares of the medical instruments supplier's stock valued at $11,018,000 after buying an additional 8,267 shares during the period. Finally, Roubaix Capital LLC grew its holdings in shares of Mesa Laboratories by 30.7% during the 1st quarter. Roubaix Capital LLC now owns 72,115 shares of the medical instruments supplier's stock worth $6,376,000 after acquiring an additional 16,926 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc NASDAQ: MLAB develops, manufactures and sells products used for quality control, safety monitoring and process validation across healthcare, pharmaceutical, industrial and research markets. The company's offerings are designed to help customers monitor critical conditions and verify that sterilization, radiation exposure and other controlled processes meet established standards.

Mesa Laboratories' products include biological and chemical indicators, process challenge devices and related systems for sterilization monitoring.

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