Mesa Laboratories (NASDAQ:MLAB - Free Report) had its target price decreased by Wells Fargo & Company from $120.00 to $100.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the medical instruments supplier's stock.
Mesa Laboratories Trading Up 4.0%
Shares of Mesa Laboratories stock traded up $3.91 during mid-day trading on Friday, hitting $101.87. The stock had a trading volume of 24,763 shares, compared to its average volume of 39,942. The firm has a 50-day moving average of $114.78 and a two-hundred day moving average of $126.29. The firm has a market cap of $555.70 million, a P/E ratio of -2.20 and a beta of 0.97. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Mesa Laboratories has a 12-month low of $83.68 and a 12-month high of $155.12.
Mesa Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, May 30th. Mesa Laboratories's dividend payout ratio (DPR) is presently -172.97%.
Insider Buying and Selling at Mesa Laboratories
In other Mesa Laboratories news, CEO Gary M. Owens sold 21,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total transaction of $2,602,110.00. Following the transaction, the chief executive officer now directly 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 the SEC website. Company insiders own 4.40% of the company's stock.
Institutional Investors Weigh In On Mesa Laboratories
Several institutional investors and hedge funds have recently modified their holdings of MLAB. Pacer Advisors Inc. grew its position in Mesa Laboratories by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,755 shares of the medical instruments supplier's stock valued at $231,000 after acquiring an additional 73 shares in the last quarter. Berry Wealth Group LP boosted its stake 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 increased its stake in Mesa Laboratories by 3.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 3,394 shares of the medical instruments supplier's stock worth $448,000 after buying an additional 100 shares during the period. Finally, Alliancebernstein L.P. grew its stake 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 worth $736,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.
About Mesa Laboratories
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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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