Mesa Laboratories (NASDAQ:MLAB) Hits New 1-Year High – Time to Buy?

Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) reached a new 52-week high during trading on Monday. The stock traded as high as $139.60 and last traded at $140.8960, with a volume of 78444 shares changing hands. The stock had previously closed at $132.55.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Finally, Weiss Ratings raised Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.00.

Mesa Laboratories Price Performance

The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $119.70 and its 200-day moving average price is $105.58. The stock has a market cap of $797.13 million, a P/E ratio of 168.60 and a beta of 1.06.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 EPS for the quarter. The company had revenue of $60.14 million during the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%.

Insider Activity

In other news, Director R Tripeny bought 900 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $113.69 per share, for a total transaction of $102,321.00. Following the completion of the acquisition, the director owned 6,298 shares in the company, valued at approximately $716,019.62. This trade represents a 16.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Sullivan sold 7,093 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $112.80, for a total value of $800,090.40. Following the completion of the sale, the director directly owned 17,834 shares in the company, valued at $2,011,675.20. The trade was a 28.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

Institutional Trading of Mesa Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mesa Laboratories in the 4th quarter worth about $27,000. Allworth Financial LP increased its position in shares of Mesa Laboratories by 110.0% during the second quarter. Allworth Financial LP now owns 523 shares of the medical instruments supplier’s stock valued at $52,000 after buying an additional 274 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Mesa Laboratories during the second quarter valued at about $87,000. Baird Financial Group Inc. bought a new position in Mesa Laboratories in the second quarter worth about $231,000. Finally, Corient Private Wealth LP purchased a new stake in Mesa Laboratories in the second quarter worth about $241,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc (NASDAQ:MLAB) develops, manufactures and sells products used for quality control, safety monitoring and process validation across healthcare, pharmaceutical, industrial and research markets. The company’s offerings are designed to help customers monitor critical conditions and verify that sterilization, radiation exposure and other controlled processes meet established standards.

Mesa Laboratories’ products include biological and chemical indicators, process challenge devices and related systems for sterilization monitoring.