David M. Kelly Sells 700 Shares of Mesa Laboratories, Inc. (MLAB) Stock
Mesa Laboratories, Inc. (NASDAQ:MLAB) Director David M. Kelly sold 700 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $190.01, for a total value of $133,007.00. Following the sale, the director now owns 3,600 shares in the company, valued at $684,036. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Mesa Laboratories stock traded down $9.60 during midday trading on Monday, reaching $181.00. The company had a trading volume of 14,100 shares, compared to its average volume of 19,323. The firm has a market capitalization of $733.35 million, a PE ratio of 30.57 and a beta of 0.23. Mesa Laboratories, Inc. has a 12-month low of $122.35 and a 12-month high of $224.95. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.36.
Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Tuesday, July 31st. The medical instruments supplier reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.27. The firm had revenue of $25.14 million for the quarter. Mesa Laboratories had a negative net margin of 0.25% and a positive return on equity of 15.92%. sell-side analysts predict that Mesa Laboratories, Inc. will post 7.09 EPS for the current fiscal year.
MLAB has been the topic of a number of analyst reports. TheStreet upgraded Mesa Laboratories from a “c” rating to a “b” rating in a research report on Thursday, June 28th. ValuEngine upgraded Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Mesa Laboratories from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a research report on Wednesday, July 11th. Finally, BidaskClub lowered shares of Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th.
A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Mesa Laboratories by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,858 shares of the medical instruments supplier’s stock valued at $3,980,000 after buying an additional 958 shares in the last quarter. Millennium Management LLC purchased a new position in Mesa Laboratories in the 2nd quarter valued at about $3,888,000. Paloma Partners Management Co purchased a new position in Mesa Laboratories in the 2nd quarter valued at about $284,000. Bank of America Corp DE lifted its stake in Mesa Laboratories by 126.2% in the 2nd quarter. Bank of America Corp DE now owns 3,939 shares of the medical instruments supplier’s stock valued at $832,000 after buying an additional 2,198 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Mesa Laboratories in the 2nd quarter valued at about $298,000. 72.10% of the stock is currently owned by hedge funds and other 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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