Mesa Laboratories (NASDAQ:MLAB) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Mesa Laboratories (NASDAQ:MLAB - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

MLAB has been the topic of several other research reports. 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 target price 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 Performance

Shares of MLAB traded down $4.63 during midday trading on Wednesday, hitting $107.77. 27,193 shares of the stock traded hands, compared to its average volume of 41,375. Mesa Laboratories has a 1-year low of $83.68 and a 1-year high of $141.17. The firm has a market capitalization of $585.19 million, a PE ratio of -2.37 and a beta of 0.87. 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 business's 50 day moving average price is $123.83 and its two-hundred day moving average price is $114.95.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.59%. Mesa Laboratories's dividend payout ratio is -1.40%.

Insider Activity

In related news, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $113.62, for a total value of $286,095.16. Following the transaction, the chief executive officer now owns 45,888 shares in the company, valued at approximately $5,213,794.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $113.62, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mesa Laboratories

Large investors have recently added to or reduced their stakes in the stock. Meros Investment Management LP bought a new stake in shares of Mesa Laboratories in the second quarter valued at approximately $2,456,000. Keeley Teton Advisors LLC bought a new stake in shares of Mesa Laboratories in the first quarter valued at approximately $2,606,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 period. Eagle Asset Management Inc. boosted its position in shares of Mesa Laboratories by 10.9% in 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 boosted its position in shares of Mesa Laboratories by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 131,891 shares of the medical instruments supplier's stock valued at $11,444,000 after acquiring an additional 8,722 shares during the period. 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.