Mesa Laboratories (NASDAQ:MLAB) Stock Price Up 6.6% - What's Next?

Key Points

• Mesa Laboratories shares rose 6.6% to about $136.26 in mid-day trading, while trading volume was 62% below its average.
• Analyst sentiment was mixed but averaged a “Hold” rating, with a $110 average price target—below the stock’s trading price.
• The company reported quarterly EPS of $2.68 on $60.14 million in revenue and announced a $0.16 quarterly dividend, equal to a 0.5% yield.

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares rose 6.6% during mid-day trading on Tuesday. The company traded as high as $137.76 and last traded at $136.2590. Approximately 52,669 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 140,150 shares. The stock had previously closed at $127.82.

Wall Street Analyst Weigh In

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

Mesa Laboratories Trading Up 3.3%

The business has a fifty day moving average price of $128.27 and a two-hundred day moving average price of $105.16. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $739.31 million, a PE ratio of 157.17 and a beta of 1.08.

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

Mesa Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.5%. Mesa Laboratories's payout ratio is presently 76.19%.

Insiders Place Their Bets

In other news, Director R Tripeny acquired 900 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $113.69 per share, for a total transaction of $102,321.00. Following the acquisition, the director owned 6,298 shares of the company's stock, valued at $716,019.62. This represents a 16.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Sullivan sold 7,093 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $112.80, for a total value of $800,090.40. Following the completion of the sale, the director owned 17,834 shares in the company, valued at $2,011,675.20. This represents a 28.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Institutional Trading of Mesa Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aberdeen Group plc acquired a new stake in shares of Mesa Laboratories during the third quarter worth about $13,137,000. William Blair Investment Management LLC acquired a new position in shares of Mesa Laboratories in the third quarter valued at approximately $16,934,000. Keybank National Association OH purchased a new stake in Mesa Laboratories during the 3rd quarter worth approximately $488,000. State of Wyoming purchased a new stake in Mesa Laboratories during the 3rd quarter worth approximately $91,000. Finally, Sterling Capital Management LLC increased its stake in Mesa Laboratories by 10,884.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,087 shares of the medical instruments supplier's stock worth $271,000 after buying an additional 2,068 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc. develops and manufactures products used for quality control, monitoring, and measurement in healthcare, pharmaceutical, industrial, and other regulated applications. The company's offerings are designed to help customers verify the performance of processes, equipment, and environmental conditions. Mesa Laboratories' product portfolio includes sterilization assurance products, such as biological indicators and related monitoring systems, as well as instruments and consumables used in healthcare and laboratory settings.

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