Mesa Laboratories (NASDAQ:MLAB) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a hold rating in a report published on Thursday, ValuEngine reports.

Several other research analysts also recently weighed in on the company. TheStreet upgraded Mesa Laboratories from a c+ rating to a b rating in a research note on Tuesday, July 30th. BidaskClub upgraded Mesa Laboratories from a hold rating to a buy rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $256.00.

MLAB traded down $3.29 during trading on Thursday, hitting $220.38. 182,383 shares of the stock were exchanged, compared to its average volume of 60,233. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 41.04 and a beta of 0.23. Mesa Laboratories has a 1-year low of $167.34 and a 1-year high of $268.47. The company’s fifty day simple moving average is $237.95. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings results on Monday, June 3rd. The medical instruments supplier reported $0.34 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.74). Mesa Laboratories had a return on equity of 19.67% and a net margin of 7.53%. The firm had revenue of $26.45 million for the quarter, compared to analyst estimates of $29.00 million. On average, analysts forecast that Mesa Laboratories will post 7.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.29%. Mesa Laboratories’s dividend payout ratio (DPR) is presently 11.92%.

A number of institutional investors and hedge funds have recently bought and sold shares of MLAB. Bank of Montreal Can raised its holdings in Mesa Laboratories by 1,982.4% in the 2nd quarter. Bank of Montreal Can now owns 354 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 337 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Mesa Laboratories by 132.6% in the 2nd quarter. Prudential Financial Inc. now owns 2,333 shares of the medical instruments supplier’s stock worth $570,000 after buying an additional 1,330 shares in the last quarter. LS Investment Advisors LLC acquired a new position in shares of Mesa Laboratories in the 2nd quarter worth approximately $28,000. JPMorgan Chase & Co. increased its holdings in Mesa Laboratories by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 937 shares of the medical instruments supplier’s stock valued at $222,000 after purchasing an additional 116 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Mesa Laboratories by 50.7% in the 2nd quarter. Wells Fargo & Company MN now owns 13,362 shares of the medical instruments supplier’s stock valued at $3,265,000 after buying an additional 4,493 shares during the period. Institutional investors own 73.68% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

Further Reading: Intrinsic Value

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