Meros Investment Management LP Invests $2.46 Million in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Meros Investment Management LP bought a new position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 28,299 shares of the medical instruments supplier's stock, valued at approximately $2,456,000. Meros Investment Management LP owned approximately 0.52% of Mesa Laboratories at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLAB. Canada Pension Plan Investment Board purchased a new position in Mesa Laboratories during the second quarter worth about $26,000. EntryPoint Capital LLC boosted its holdings in Mesa Laboratories by 35.2% during the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier's stock worth $81,000 after purchasing an additional 193 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Mesa Laboratories by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier's stock worth $226,000 after purchasing an additional 100 shares during the last quarter. Choreo LLC purchased a new position in Mesa Laboratories during the second quarter worth about $265,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in Mesa Laboratories during the second quarter worth about $311,000. 90.60% of the stock is owned by institutional investors.

Mesa Laboratories Stock Performance

MLAB traded up $0.07 during midday trading on Friday, reaching $127.72. The company had a trading volume of 15,665 shares, compared to its average volume of 42,936. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.37 and a current ratio of 1.94. The stock has a market cap of $690.84 million, a PE ratio of -2.71 and a beta of 0.85. Mesa Laboratories, Inc. has a 12-month low of $82.86 and a 12-month high of $141.17. The business has a 50-day moving average price of $122.33 and a two-hundred day moving average price of $110.13.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.55. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. The company had revenue of $58.17 million for the quarter, compared to analyst estimates of $55.90 million. On average, sell-side analysts expect that Mesa Laboratories, Inc. will post 7.91 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, August 30th. Mesa Laboratories's dividend payout ratio (DPR) is currently -1.36%.

Analysts Set New Price Targets

MLAB has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an "underweight" rating and a $120.00 price target on the stock. Evercore ISI boosted their target price on shares of Mesa Laboratories from $106.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, August 6th.

Insider Activity

In other news, SVP Brian David Archbold sold 1,499 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total value of $187,375.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.20% of the company's stock.

Mesa Laboratories Company Profile

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.