Zacks Investment Research Downgrades Mesa Laboratories, Inc. (NASDAQ:MLAB) to Strong Sell
Zacks Investment Research lowered shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) from a buy rating to a strong sell rating in a report published on Thursday.
According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “
Other equities analysts have also issued research reports about the company. BidaskClub lowered Mesa Laboratories from a hold rating to a sell rating in a research report on Monday, July 31st. TheStreet lowered Mesa Laboratories from a b rating to a c+ rating in a research report on Monday, July 31st.
Mesa Laboratories (NASDAQ:MLAB) traded down 1.33% during trading on Thursday, reaching $139.64. 8,395 shares of the company traded hands. Mesa Laboratories has a 52 week low of $102.14 and a 52 week high of $169.80. The firm has a market capitalization of $524.77 million, a price-to-earnings ratio of 50.19 and a beta of 0.46. The company’s 50-day moving average price is $144.28 and its 200 day moving average price is $135.20.
Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Monday, July 31st. The medical instruments supplier reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.17. Mesa Laboratories had a return on equity of 16.58% and a net margin of 11.31%. The business had revenue of $22.67 million during the quarter, compared to analysts’ expectations of $22.90 million. On average, equities research analysts expect that Mesa Laboratories will post $2.72 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.45%. Mesa Laboratories’s dividend payout ratio is currently 22.94%.
In other Mesa Laboratories news, Director Robert V. Dwyer sold 11,150 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $139.46, for a total transaction of $1,554,979.00. Following the completion of the sale, the director now directly owns 80,671 shares in the company, valued at approximately $11,250,377.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director H Stuart Campbell sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $143.37, for a total value of $286,740.00. Following the sale, the director now owns 49,976 shares of the company’s stock, valued at $7,165,059.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,150 shares of company stock valued at $2,722,729. Corporate insiders own 17.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. increased its stake in Mesa Laboratories by 5.6% in the second quarter. Eqis Capital Management Inc. now owns 5,188 shares of the medical instruments supplier’s stock worth $744,000 after buying an additional 273 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in Mesa Laboratories by 75.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 72,362 shares of the medical instruments supplier’s stock worth $10,370,000 after buying an additional 31,107 shares in the last quarter. Pembroke Management LTD purchased a new stake in Mesa Laboratories during the second quarter worth about $8,283,000. Strs Ohio increased its stake in Mesa Laboratories by 5.6% in the second quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock worth $272,000 after buying an additional 100 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Mesa Laboratories during the second quarter worth about $300,000. Institutional investors and hedge funds own 66.72% of the company’s stock.
About Mesa Laboratories
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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