Mesa Laboratories, Inc. (NASDAQ:MLAB) Sees Large Drop in Short Interest

Mesa Laboratories, Inc. (NASDAQ:MLAB) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 123,000 shares, a drop of 18.1% from the October 31st total of 150,200 shares. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is currently 3.5 days.

Mesa Laboratories Trading Down 1.0 %

MLAB stock opened at $117.14 on Monday. The business has a fifty day moving average price of $120.41 and a 200 day moving average price of $114.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51. Mesa Laboratories has a fifty-two week low of $83.68 and a fifty-two week high of $141.17. The stock has a market capitalization of $636.07 million, a price-to-earnings ratio of -2.57 and a beta of 0.87.

Mesa Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given 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 0.55%. Mesa Laboratories’s dividend payout ratio (DPR) is -1.40%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MLAB shares. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 target price on the stock. Evercore ISI increased their price objective on Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Insider Buying and Selling at Mesa Laboratories

In related news, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the sale, the chief executive officer now owns 45,888 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Brian David Archbold sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total value of $187,375.00. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Mesa Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Mesa Laboratories by 27.8% in the third quarter. Franklin Resources Inc. now owns 6,444 shares of the medical instruments supplier’s stock worth $828,000 after acquiring an additional 1,403 shares during the last quarter. Barclays PLC lifted its holdings in Mesa Laboratories by 357.4% during the 3rd quarter. Barclays PLC now owns 8,837 shares of the medical instruments supplier’s stock worth $1,148,000 after buying an additional 6,905 shares in the last quarter. Meros Investment Management LP boosted its position in Mesa Laboratories by 17.5% in the 3rd quarter. Meros Investment Management LP now owns 33,240 shares of the medical instruments supplier’s stock valued at $4,317,000 after buying an additional 4,941 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Mesa Laboratories by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 124,761 shares of the medical instruments supplier’s stock valued at $16,205,000 after buying an additional 5,771 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Mesa Laboratories in the 3rd quarter valued at $388,000. 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.