Segall Bryant & Hamill LLC lessened its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 23.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,470 shares of the medical instruments supplier's stock after selling 6,402 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.38% of Mesa Laboratories worth $2,658,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of MLAB. Vanguard Group Inc. raised its position in shares of Mesa Laboratories by 0.8% in the first quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier's stock worth $40,973,000 after buying an additional 3,119 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Mesa Laboratories by 44.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 22,108 shares of the medical instruments supplier's stock valued at $2,871,000 after acquiring an additional 6,766 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Mesa Laboratories by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier's stock valued at $316,000 after acquiring an additional 175 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Mesa Laboratories by 21.8% during the third quarter. Principal Financial Group Inc. now owns 35,107 shares of the medical instruments supplier's stock worth $4,559,000 after purchasing an additional 6,292 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Mesa Laboratories by 8.4% in the second quarter. Raymond James & Associates now owns 80,739 shares of the medical instruments supplier's stock worth $7,006,000 after purchasing an additional 6,283 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.
Mesa Laboratories Trading Up 8.2 %
MLAB stock traded up $8.23 during midday trading on Friday, hitting $109.09. The company had a trading volume of 63,432 shares, compared to its average volume of 40,124. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. Mesa Laboratories, Inc. has a 52 week low of $83.68 and a 52 week high of $141.17. The stock has a market cap of $592.36 million, a price-to-earnings ratio of -2.39 and a beta of 0.87. The stock's 50 day moving average price is $121.31 and its 200 day moving average price is $114.51.
Mesa Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories's payout ratio is -1.40%.
Analysts Set New Price Targets
Several brokerages have issued reports on MLAB. Evercore ISI lifted their target price on shares of Mesa Laboratories from $120.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. StockNews.com downgraded shares of Mesa Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company began coverage on Mesa Laboratories in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $120.00 target price on the stock.
Read Our Latest Research Report on Mesa Laboratories
Insider Activity
In related news, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary M. Owens sold 2,518 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the transaction, the chief executive officer now directly owns 45,888 shares of the company's stock, valued at $5,213,794.56. This represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company's stock.
About Mesa Laboratories
(
Free Report)
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.
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