Mesa Laboratories, Inc. (MLAB) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) from a strong sell rating to a buy rating in a research note issued to investors on Tuesday morning. The brokerage currently has $167.00 target price on the medical instruments supplier’s stock.
According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “
Several other research analysts have also issued reports on the company. BidaskClub cut Mesa Laboratories from a sell rating to a strong sell rating in a research note on Saturday, August 12th. TheStreet downgraded Mesa Laboratories from a b rating to a c+ rating in a report on Monday, July 31st.
Shares of Mesa Laboratories (NASDAQ:MLAB) traded up 2.45% during trading on Tuesday, hitting $156.24. The stock had a trading volume of 6,687 shares. The company has a market cap of $587.15 million, a P/E ratio of 56.16 and a beta of 0.49. Mesa Laboratories has a 12 month low of $109.14 and a 12 month high of $169.81. The stock has a 50-day moving average price of $139.04 and a 200 day moving average price of $140.28.
Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, July 31st. The medical instruments supplier reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17). Mesa Laboratories had a return on equity of 16.58% and a net margin of 11.31%. The business had revenue of $22.67 million during the quarter, compared to analyst estimates of $22.90 million. Equities analysts expect that Mesa Laboratories will post $2.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 29th. Mesa Laboratories’s dividend payout ratio (DPR) is presently 22.94%.
In other Mesa Laboratories news, Director H Stuart Campbell sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $130.16, for a total transaction of $130,160.00. Following the transaction, the director now owns 42,366 shares in the company, valued at approximately $5,514,358.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 8,610 shares of company stock worth $1,176,809. 15.70% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Voya Investment Management LLC acquired a new stake in shares of Mesa Laboratories during the second quarter worth $221,000. Strs Ohio grew its holdings in shares of Mesa Laboratories by 5.6% during the second quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock valued at $272,000 after buying an additional 100 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Mesa Laboratories in the 2nd quarter valued at $277,000. Spark Investment Management LLC acquired a new position in shares of Mesa Laboratories in the 2nd quarter valued at $300,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Mesa Laboratories by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,564 shares of the medical instruments supplier’s stock valued at $367,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 67.02% of the company’s stock.
About Mesa Laboratories
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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