Mesa Laboratories (NASDAQ:MLAB) Cut to “Buy” at BidaskClub

BidaskClub cut shares of Mesa Laboratories (NASDAQ:MLAB) from a strong-buy rating to a buy rating in a report released on Tuesday, BidAskClub reports.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Mesa Laboratories from a buy rating to a hold rating in a report on Tuesday, December 10th. Jefferies Financial Group started coverage on Mesa Laboratories in a report on Wednesday, December 4th. They issued a buy rating and a $275.00 price objective for the company. Finally, Zacks Investment Research downgraded Mesa Laboratories from a buy rating to a hold rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $273.67.

MLAB traded up $3.36 during trading on Tuesday, reaching $263.11. The stock had a trading volume of 1,608 shares, compared to its average volume of 40,705. The stock’s 50 day moving average is $259.08 and its two-hundred day moving average is $238.57. The company has a current ratio of 16.17, a quick ratio of 15.76 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 233.79 and a beta of 0.19. Mesa Laboratories has a one year low of $181.21 and a one year high of $271.11.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, February 10th. The medical instruments supplier reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($1.94). The firm had revenue of $31.66 million during the quarter, compared to the consensus estimate of $31.05 million. Mesa Laboratories had a return on equity of 11.48% and a net margin of 4.03%. On average, equities research analysts predict that Mesa Laboratories will post 6.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.24%. Mesa Laboratories’s payout ratio is presently 11.92%.

In other news, Director John Bradley Schmieder sold 700 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $238.06, for a total transaction of $166,642.00. Following the completion of the transaction, the director now directly owns 75,119 shares in the company, valued at $17,882,829.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert V. Dwyer sold 1,367 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $258.72, for a total value of $353,670.24. Following the transaction, the director now owns 41,829 shares of the company’s stock, valued at $10,821,998.88. The disclosure for this sale can be found here. Insiders have sold 9,567 shares of company stock valued at $2,405,137 over the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MLAB. Russell Investments Group Ltd. purchased a new stake in shares of Mesa Laboratories during the third quarter valued at $8,405,000. Castleark Management LLC purchased a new stake in shares of Mesa Laboratories during the third quarter valued at $7,674,000. Moody Aldrich Partners LLC purchased a new stake in shares of Mesa Laboratories during the fourth quarter valued at $7,255,000. Royce & Associates LP boosted its position in shares of Mesa Laboratories by 11.4% during the fourth quarter. Royce & Associates LP now owns 265,979 shares of the medical instruments supplier’s stock valued at $66,335,000 after buying an additional 27,120 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Mesa Laboratories by 826.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 29,482 shares of the medical instruments supplier’s stock valued at $7,352,000 after buying an additional 26,299 shares during the last quarter. 90.70% of the stock is currently owned by institutional investors.

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.

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