Mesa Laboratories (NASDAQ:MLAB) Upgraded at StockNews.com

StockNews.com upgraded shares of Mesa Laboratories (NASDAQ:MLAB) from a hold rating to a buy rating in a research note published on Saturday morning.

Other equities research analysts have also issued research reports about the company. Evercore ISI increased their price target on Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company started coverage on Mesa Laboratories in a research report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 target price for the company.

Mesa Laboratories Trading Down 2.9 %

Mesa Laboratories stock opened at $113.04 on Friday. Mesa Laboratories has a 12-month low of $82.86 and a 12-month high of $141.17. The firm has a market capitalization of $611.55 million, a price-to-earnings ratio of -2.44 and a beta of 0.85. The firm has a 50 day moving average of $127.73 and a 200 day moving average of $113.68. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 1.38.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.55. The business had revenue of $58.17 million during the quarter, compared to analyst estimates of $55.90 million. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. As a group, research analysts predict that Mesa Laboratories will post 7.91 earnings per share for the current year.

Mesa Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 0.57%. Mesa Laboratories’s payout ratio is -1.38%.

Insider Buying and Selling at Mesa Laboratories

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Mesa Laboratories

Large investors have recently added to or reduced their stakes in the company. Berry Wealth Group LP purchased a new position in shares of Mesa Laboratories in the third quarter valued at $204,000. Creative Planning lifted its position in Mesa Laboratories by 100.3% during the third quarter. Creative Planning now owns 5,389 shares of the medical instruments supplier’s stock valued at $700,000 after purchasing an additional 2,698 shares during the last quarter. SG Americas Securities LLC bought a new position in Mesa Laboratories during the third quarter valued at $302,000. Sanctuary Advisors LLC purchased a new position in shares of Mesa Laboratories in the 2nd quarter worth $183,000. Finally, Meros Investment Management LP purchased a new stake in shares of Mesa Laboratories during the 2nd quarter valued at about $2,456,000. Institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.