Zacks Investment Research Lowers Mesa Laboratories (NASDAQ:MLAB) to Hold

Zacks Investment Research lowered shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

Separately, TheStreet lowered Mesa Laboratories from a b- rating to a c rating in a research report on Friday, January 7th.

Shares of Mesa Laboratories stock opened at $296.15 on Wednesday. Mesa Laboratories has a fifty-two week low of $232.88 and a fifty-two week high of $333.42. The firm has a market cap of $1.55 billion, a PE ratio of 318.44 and a beta of 0.34. The business’s fifty day moving average is $316.73 and its two-hundred day moving average is $297.50. The company has a quick ratio of 10.71, a current ratio of 11.13 and a debt-to-equity ratio of 0.42.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Thursday, November 4th. The medical instruments supplier reported $1.49 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.60. The business had revenue of $35.84 million for the quarter, compared to analyst estimates of $34.95 million. Mesa Laboratories had a return on equity of 6.17% and a net margin of 3.56%. Equities research analysts anticipate that Mesa Laboratories will post 6.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, February 25th. This represents a $0.64 annualized dividend and a dividend yield of 0.22%. Mesa Laboratories’s dividend payout ratio is presently 68.82%.

In related news, SVP Gregory Dinoia sold 280 shares of Mesa Laboratories stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $323.72, for a total value of $90,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Sakys sold 2,000 shares of Mesa Laboratories stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $309.86, for a total value of $619,720.00. The disclosure for this sale can be found here. Insiders have sold 15,227 shares of company stock valued at $4,791,041 over the last 90 days. Insiders own 5.10% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new position in Mesa Laboratories in the second quarter worth about $71,000. Harbor Investment Advisory LLC acquired a new position in Mesa Laboratories in the third quarter valued at approximately $97,000. Marco Investment Management LLC acquired a new position in Mesa Laboratories in the third quarter valued at approximately $204,000. Hsbc Holdings PLC acquired a new position in Mesa Laboratories in the third quarter valued at approximately $207,000. Finally, Mutual of America Capital Management LLC boosted its stake in Mesa Laboratories by 6.8% in the second quarter. Mutual of America Capital Management LLC now owns 694 shares of the medical instruments supplier’s stock valued at $188,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc engages in the design, manufacture, and market of instruments and disposable products utilized in healthcare, pharmaceutical, food and beverage, medical device, and petrochemical industries. It operates through the following segments: Sterilization and Disinfection Control, Instruments, Continuous Monitoring, and Biopharmaceutical Development.

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