Mesa Laboratories (MLAB) Downgraded by ValuEngine

ValuEngine downgraded shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

Several other research firms have also recently issued reports on MLAB. BidaskClub upgraded shares of Mesa Laboratories from a sell rating to a hold rating in a report on Friday, March 29th. Zacks Investment Research upgraded shares of Mesa Laboratories from a hold rating to a buy rating and set a $257.00 price objective for the company in a report on Friday, February 8th. TheStreet upgraded shares of Mesa Laboratories from a c rating to a b- rating in a report on Friday, February 8th. Finally, Sidoti began coverage on shares of Mesa Laboratories in a report on Wednesday, March 13th. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $256.00.

Mesa Laboratories stock opened at $235.19 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $909.72 million, a PE ratio of 38.06 and a beta of 0.37. Mesa Laboratories has a 12-month low of $156.99 and a 12-month high of $241.83.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, February 4th. The medical instruments supplier reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.01. The business had revenue of $26.68 million during the quarter, compared to analysts’ expectations of $25.80 million. Mesa Laboratories had a net margin of 9.98% and a return on equity of 23.53%. As a group, sell-side analysts anticipate that Mesa Laboratories will post 5.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Thursday, May 30th. Mesa Laboratories’s payout ratio is 10.36%.

In related news, Director David M. Kelly sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $229.62, for a total transaction of $459,240.00. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at $895,518. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert V. Dwyer sold 4,083 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $235.03, for a total transaction of $959,627.49. Following the sale, the director now owns 61,215 shares of the company’s stock, valued at $14,387,361.45. The disclosure for this sale can be found here. Insiders have sold 19,842 shares of company stock valued at $4,607,649 over the last 90 days. 15.00% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Mesa Laboratories by 70,300.0% in the first quarter. BNP Paribas Arbitrage SA now owns 704 shares of the medical instruments supplier’s stock worth $162,000 after acquiring an additional 703 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Mesa Laboratories by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 38,704 shares of the medical instruments supplier’s stock worth $8,065,000 after acquiring an additional 2,868 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mesa Laboratories by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 140,607 shares of the medical instruments supplier’s stock worth $29,301,000 after acquiring an additional 1,910 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Mesa Laboratories in the fourth quarter worth about $2,022,000. Finally, Legal & General Group Plc raised its stake in shares of Mesa Laboratories by 14.1% in the fourth quarter. Legal & General Group Plc now owns 656 shares of the medical instruments supplier’s stock worth $136,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 76.32% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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