Mesa Laboratories (NASDAQ:MLAB) Shares Down 6% – Here’s What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB) dropped 6% during trading on Friday . The company traded as low as $106.74 and last traded at $106.4250. 113,276 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 148,052 shares. The stock had previously closed at $113.20.

Analyst Ratings Changes

MLAB has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday. Wall Street Zen cut shares of Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings raised shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $110.00.

Mesa Laboratories Stock Performance

The stock has a market capitalization of $593.82 million, a price-to-earnings ratio of 126.24 and a beta of 0.92. The firm has a fifty day moving average of $100.64 and a 200 day moving average of $95.97. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.29.

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

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Mesa Laboratories’s payout ratio is 76.19%.

Insider Activity at Mesa Laboratories

In other Mesa Laboratories news, CAO Lyndsey Elizabeth Crennen sold 442 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total value of $39,559.00. Following the completion of the transaction, the chief accounting officer owned 2,020 shares in the company, valued at approximately $180,790. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian David Archbold sold 2,516 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $89.50, for a total transaction of $225,182.00. Following the sale, the senior vice president directly owned 6,377 shares in the company, valued at approximately $570,741.50. The trade was a 28.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,277 shares of company stock worth $770,122 in the last three months. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

Large investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Mesa Laboratories by 1.2% during the first quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier’s stock worth $3,652,000 after purchasing an additional 353 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Mesa Laboratories in the first quarter valued at approximately $335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mesa Laboratories by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier’s stock valued at $364,000 after buying an additional 143 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Mesa Laboratories by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 19,977 shares of the medical instruments supplier’s stock valued at $2,370,000 after buying an additional 685 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Mesa Laboratories by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 13,431 shares of the medical instruments supplier’s stock worth $1,265,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.