Mesa Laboratories (NASDAQ:MLAB) Hits New 52-Week High at $309.05

Mesa Laboratories, Inc. (NASDAQ:MLAB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $309.05 and last traded at $306.81, with a volume of 1538 shares trading hands. The stock had previously closed at $302.92.

Separately, Zacks Investment Research downgraded Mesa Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 17th.

The firm has a market cap of $1.60 billion, a P/E ratio of 409.35 and a beta of 0.38. The company has a current ratio of 9.43, a quick ratio of 9.06 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $278.49 and its two-hundred day moving average is $263.68.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, August 30th. This represents a $0.64 annualized dividend and a yield of 0.21%. Mesa Laboratories’s payout ratio is 12.21%.

In other Mesa Laboratories news, Director John James Sullivan sold 1,250 shares of Mesa Laboratories stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $290.47, for a total transaction of $363,087.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Sakys sold 1,000 shares of Mesa Laboratories stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $278.77, for a total transaction of $278,770.00. Following the completion of the sale, the chief financial officer now directly owns 8,514 shares in the company, valued at approximately $2,373,447.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,854 shares of company stock worth $4,087,169. Insiders own 5.10% of the company’s stock.

Several large investors have recently bought and sold shares of MLAB. BlackRock Inc. grew its stake in Mesa Laboratories by 14.0% in the 2nd quarter. BlackRock Inc. now owns 932,272 shares of the medical instruments supplier’s stock valued at $252,804,000 after buying an additional 114,355 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Mesa Laboratories by 181.3% in the 1st quarter. Glenmede Trust Co. NA now owns 75,113 shares of the medical instruments supplier’s stock valued at $18,289,000 after buying an additional 48,409 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Mesa Laboratories by 35.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 70,506 shares of the medical instruments supplier’s stock valued at $19,119,000 after buying an additional 18,595 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Mesa Laboratories by 321.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 19,557 shares of the medical instruments supplier’s stock valued at $4,762,000 after buying an additional 14,920 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Mesa Laboratories by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 23,700 shares of the medical instruments supplier’s stock valued at $6,427,000 after buying an additional 11,800 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Mesa Laboratories Company Profile (NASDAQ:MLAB)

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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