Mesa Laboratories (NASDAQ:MLAB) Shares Gap Down to $130.82

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $130.82, but opened at $127.28. Mesa Laboratories shares last traded at $127.28, with a volume of 2,729 shares.

Analysts Set New Price Targets

Separately, Evercore ISI upped their price objective on shares of Mesa Laboratories from $106.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th.

Mesa Laboratories Stock Down 1.9 %

The stock has a market capitalization of $694.25 million, a price-to-earnings ratio of -2.72 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.37 and a quick ratio of 1.86. The business has a fifty day moving average of $104.70 and a 200 day moving average of $105.66.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last released its quarterly earnings results on Wednesday, June 5th. The medical instruments supplier reported $2.25 earnings per share for the quarter. The business had revenue of $58.90 million during the quarter. Mesa Laboratories had a positive return on equity of 10.10% and a negative net margin of 117.61%. As a group, equities analysts predict that Mesa Laboratories, Inc. will post 6.91 earnings per share for the current year.

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. Mesa Laboratories's dividend payout ratio is currently -1.36%.

Institutional Investors Weigh In On Mesa Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in Mesa Laboratories during the 2nd quarter worth approximately $26,000. Quadrant Capital Group LLC increased its position in shares of Mesa Laboratories by 515.6% during the fourth quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier's stock worth $29,000 after acquiring an additional 232 shares during the period. EntryPoint Capital LLC raised its stake in shares of Mesa Laboratories by 35.2% in the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier's stock valued at $81,000 after acquiring an additional 193 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Mesa Laboratories by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier's stock valued at $226,000 after purchasing an additional 100 shares during the period. Finally, Choreo LLC acquired a new position in Mesa Laboratories during the 2nd quarter worth $265,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

About Mesa Laboratories

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.