Insider Selling: Mesa Laboratories (NASDAQ:MLAB) Director Sells $800,090.40 in Stock

Mesa Laboratories, Inc. (NASDAQ:MLAB) Director John James Sullivan sold 7,093 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $112.80, for a total transaction of $800,090.40. Following the sale, the director directly owned 17,834 shares in the company, valued at $2,011,675.20. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mesa Laboratories Stock Performance

Shares of NASDAQ MLAB traded up $2.15 during midday trading on Monday, hitting $108.19. The company’s stock had a trading volume of 77,359 shares, compared to its average volume of 147,914. Mesa Laboratories, Inc. has a 1-year low of $58.83 and a 1-year high of $115.52. The firm’s fifty day moving average price is $100.64 and its 200-day moving average price is $96.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.79. The firm has a market cap of $605.40 million, a P/E ratio of 128.81 and a beta of 0.92.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings data 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 net margin of 1.92% and a return on equity of 22.72%.

Mesa Laboratories Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 0.6%. Mesa Laboratories’s dividend payout ratio is 76.19%.

Wall Street Analysts Forecast Growth

MLAB has been the topic of several recent research reports. Weiss Ratings raised Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their target price on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen downgraded shares of Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.00.

Institutional Trading of Mesa Laboratories

Hedge funds have recently added to or reduced their stakes in the business. Ranger Investment Management L.P. acquired a new position in Mesa Laboratories during the 2nd quarter worth $17,321,000. Globeflex Capital L P acquired a new position in shares of Mesa Laboratories during the second quarter valued at $1,153,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Mesa Laboratories during the second quarter valued at about $15,507,000. Bank of New York Mellon Corp bought a new stake in shares of Mesa Laboratories during the second quarter valued at about $4,540,000. Finally, Wasatch Advisors LP lifted 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 worth $11,515,000 after purchasing an additional 64,435 shares during the period. Institutional investors 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.