Mesa Laboratories (NASDAQ:MLAB) Sets New 1-Year High – What’s Next?

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s stock price reached a new 52-week high on Monday . The stock traded as high as $147.34 and last traded at $147.34, with a volume of 8178 shares changing hands. The stock had previously closed at $138.35.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLAB. StockNews.com cut Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Evercore ISI increased their price target on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st.

Mesa Laboratories Stock Up 3.6 %

The firm has a market capitalization of $778.15 million, a P/E ratio of -3.14 and a beta of 0.82. The business has a 50 day moving average price of $121.54 and a 200 day moving average price of $118.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51.

Insider Activity

In related news, CEO Gary M. Owens sold 2,518 shares of Mesa Laboratories stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $113.62, for a total transaction of $286,095.16. Following the sale, the chief executive officer now directly owns 45,888 shares of the company’s stock, valued at $5,213,794.56. This trade represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Trading of Mesa Laboratories

Several institutional investors have recently modified their holdings of MLAB. Amalgamated Bank lifted its position in Mesa Laboratories by 6.5% in the third quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after purchasing an additional 97 shares during the period. FMR LLC lifted its holdings in shares of Mesa Laboratories by 34.1% during the 3rd quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 100 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Mesa Laboratories by 1.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,461 shares of the medical instruments supplier’s stock valued at $1,488,000 after acquiring an additional 200 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Mesa Laboratories in the second quarter valued at about $26,000. Finally, Quantbot Technologies LP acquired a new position in Mesa Laboratories in the third quarter worth about $70,000. Institutional investors and hedge funds 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.