Mesa Laboratories (NASDAQ:MLAB) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $109.41 and traded as high as $128.27. Mesa Laboratories shares last traded at $125.16, with a volume of 77,216 shares trading hands.

Wall Street Analyst Weigh In

MLAB has been the topic of several research reports. Weiss Ratings upgraded Mesa Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $110.00.

Mesa Laboratories Trading Down 0.1%

The company has a market cap of $722.96 million, a P/E ratio of 17.41 and a beta of 1.06. The firm’s 50 day moving average is $126.69 and its two-hundred day moving average is $109.95. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73.

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

Mesa Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.16 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.5%. Mesa Laboratories’s dividend payout ratio is presently 76.19%.

Insider Activity at Mesa Laboratories

In other news, CEO Siddhartha Kadia bought 7,093 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $112.80 per share, with a total value of $800,090.40. Following the transaction, the chief executive officer owned 7,093 shares of the company’s stock, valued at $800,090.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Sullivan sold 7,093 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 17,834 shares of the company’s stock, valued at approximately $2,011,675.20. The trade was a 28.46% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mesa Laboratories

A number of hedge funds have recently bought and sold shares of MLAB. Ranger Investment Management L.P. acquired a new position in Mesa Laboratories in the second quarter valued at $17,321,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mesa Laboratories during the 2nd quarter worth about $15,507,000. Wasatch Advisors LP grew its holdings in Mesa Laboratories by 125.8% during the 2nd quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock worth $11,515,000 after acquiring an additional 64,435 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mesa Laboratories by 7.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 124,630 shares of the medical instruments supplier’s stock worth $11,018,000 after acquiring an additional 8,267 shares during the period. Finally, Roubaix Capital LLC raised its position in shares of Mesa Laboratories by 30.7% in the 1st quarter. Roubaix Capital LLC now owns 72,115 shares of the medical instruments supplier’s stock worth $6,376,000 after acquiring an additional 16,926 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops and manufactures products used for quality control, monitoring, and measurement in healthcare, pharmaceutical, industrial, and other regulated applications. The company’s offerings are designed to help customers verify the performance of processes, equipment, and environmental conditions.

Mesa Laboratories’ product portfolio includes sterilization assurance products, such as biological indicators and related monitoring systems, as well as instruments and consumables used in healthcare and laboratory settings.