Mesa Laboratories (NASDAQ:MLAB) Trading Down 3.1% - Should You Sell?

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares traded down 3.1% during trading on Tuesday . The stock traded as low as $131.21 and last traded at $131.25. 17,514 shares were traded during mid-day trading, a decline of 58% from the average session volume of 41,597 shares. The stock had previously closed at $135.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MLAB shares. Wells Fargo & Company began coverage on Mesa Laboratories in a report on Tuesday, August 27th. They set an "underweight" rating and a $120.00 price objective on the stock. Evercore ISI upped their price target on shares of 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 cut shares of Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th.

Mesa Laboratories Stock Performance

The firm has a fifty day moving average of $120.61 and a 200-day moving average of $116.68. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $712.82 million, a price-to-earnings ratio of -2.88 and a beta of 0.86.

Mesa Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, November 29th. Mesa Laboratories's dividend payout ratio (DPR) is presently -1.40%.

Insider Activity at Mesa Laboratories

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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mesa Laboratories

Hedge funds have recently modified their holdings of the company. Meros Investment Management LP acquired a new stake in shares of Mesa Laboratories during the second quarter worth $2,456,000. State Street Corp raised its position in shares of Mesa Laboratories by 9.2% in the 3rd quarter. State Street Corp now owns 214,148 shares of the medical instruments supplier's stock worth $27,809,000 after buying an additional 18,128 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Mesa Laboratories by 38.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,609 shares of the medical instruments supplier's stock valued at $8,130,000 after acquiring an additional 17,450 shares during the last quarter. Eagle Asset Management Inc. grew its position in Mesa Laboratories by 10.9% during the third quarter. Eagle Asset Management Inc. now owns 165,955 shares of the medical instruments supplier's stock valued at $19,722,000 after acquiring an additional 16,293 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Mesa Laboratories by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 131,891 shares of the medical instruments supplier's stock worth $11,444,000 after acquiring an additional 8,722 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

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.