Mesa Laboratories (NASDAQ:MLAB) Shares Gap Up to $128.90

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $128.90, but opened at $135.84. Mesa Laboratories shares last traded at $135.84, with a volume of 2,624 shares changing hands.

Analysts Set New Price Targets

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

Mesa Laboratories Price Performance

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 firm's 50-day moving average is $106.13 and its two-hundred day moving average is $106.00. The company has a market cap of $734.76 million, a P/E ratio of -2.88 and a beta of 0.86.

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

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, August 30th. Mesa Laboratories's payout ratio is -1.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MLAB. Conestoga Capital Advisors LLC boosted its stake in shares of Mesa Laboratories by 0.4% during the first quarter. Conestoga Capital Advisors LLC now owns 580,744 shares of the medical instruments supplier's stock valued at $63,725,000 after purchasing an additional 2,281 shares during the period. Vanguard Group Inc. boosted its stake in shares of Mesa Laboratories by 0.8% during the first quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier's stock valued at $40,973,000 after purchasing an additional 3,119 shares during the period. Ranger Investment Management L.P. boosted its stake in shares of Mesa Laboratories by 1.2% during the fourth quarter. Ranger Investment Management L.P. now owns 226,682 shares of the medical instruments supplier's stock valued at $23,749,000 after purchasing an additional 2,689 shares during the period. Geneva Capital Management LLC boosted its stake in shares of Mesa Laboratories by 2.5% during the first quarter. Geneva Capital Management LLC now owns 194,330 shares of the medical instruments supplier's stock valued at $21,324,000 after purchasing an additional 4,801 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $11,444,000 after purchasing an additional 8,722 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.