Mesa Laboratories (NASDAQ:MLAB - Free Report) had its target price trimmed by Wells Fargo & Company from $120.00 to $100.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the medical instruments supplier's stock.
Mesa Laboratories Price Performance
Shares of NASDAQ:MLAB traded down $1.96 on Friday, reaching $102.68. 42,219 shares of the company traded hands, compared to its average volume of 39,912. Mesa Laboratories has a fifty-two week low of $83.68 and a fifty-two week high of $155.12. The company's 50 day moving average is $115.26 and its 200-day moving average is $126.17. The stock has a market capitalization of $557.96 million, a PE ratio of -2.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.53.
Mesa Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. Mesa Laboratories's dividend payout ratio (DPR) is presently -1.38%.
Insider Activity
In other news, CEO Gary M. Owens sold 21,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total value of $2,602,110.00. Following the completion of the sale, the chief executive officer now owns 43,337 shares in the company, valued at $5,369,887.67. This represents a 32.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company's stock.
Institutional Trading of Mesa Laboratories
A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in shares of Mesa Laboratories by 4.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,755 shares of the medical instruments supplier's stock valued at $231,000 after purchasing an additional 73 shares in the last quarter. Berry Wealth Group LP lifted its holdings in shares of Mesa Laboratories by 5.3% in the fourth quarter. Berry Wealth Group LP now owns 1,657 shares of the medical instruments supplier's stock valued at $219,000 after purchasing an additional 83 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mesa Laboratories by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,925 shares of the medical instruments supplier's stock valued at $386,000 after purchasing an additional 98 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Mesa Laboratories by 3.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 3,394 shares of the medical instruments supplier's stock valued at $448,000 after purchasing an additional 100 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Mesa Laboratories by 2.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,584 shares of the medical instruments supplier's stock valued at $736,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.
Mesa Laboratories Company Profile
(
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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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