Mesa Laboratories (NASDAQ:MLAB) Reaches New 52-Week High – Here’s What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB) shares reached a new 52-week high during trading on Monday . The company 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 Analyst Weigh In

Several research firms have issued reports on MLAB. Evercore ISI raised their target price on Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. StockNews.com cut Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Mesa Laboratories Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. The stock’s 50-day moving average is $122.69 and its two-hundred day moving average is $119.60. The stock has a market cap of $771.36 million, a PE ratio of -3.12 and a beta of 0.82.

Mesa Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.45%. Mesa Laboratories’s dividend payout ratio is currently -1.40%.

Insider Activity

In other news, CEO Gary M. Owens sold 2,518 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 45,888 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. 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 MLAB. Canada Pension Plan Investment Board purchased a new stake in shares of Mesa Laboratories during the second quarter worth $26,000. FMR LLC grew its stake in 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 purchasing an additional 100 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Mesa Laboratories during the 3rd quarter worth about $70,000. Berry Wealth Group LP acquired a new stake in Mesa Laboratories in the 3rd quarter valued at about $204,000. Finally, Amalgamated Bank raised its position in Mesa Laboratories by 6.5% in the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock valued at $206,000 after purchasing an additional 97 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

About Mesa Laboratories

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.