Mesa Laboratories (NASDAQ:MLAB) Stock Price Down 3.1% – Here’s What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s stock price was down 3.1% during trading on Tuesday . The company traded as low as $131.21 and last traded at $131.25. Approximately 17,514 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 41,597 shares. The stock had previously closed at $135.40.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com lowered Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Wells Fargo & Company started coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price target on the stock. Finally, Evercore ISI lifted their target price on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st.

Mesa Laboratories Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $712.82 million, a PE ratio of -2.88 and a beta of 0.86. The stock’s 50 day moving average price is $120.61 and its 200 day moving average price is $116.49.

Mesa Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, November 29th. Mesa Laboratories’s dividend payout ratio is presently -1.40%.

Insider Activity

In other Mesa Laboratories news, CEO Gary M. Owens sold 2,518 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $113.62, for a total transaction of $286,095.16. Following the completion of the sale, the chief executive officer now owns 45,888 shares in the company, valued at $5,213,794.56. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MLAB. Canada Pension Plan Investment Board bought a new position in shares of Mesa Laboratories during the second quarter worth about $26,000. FMR LLC lifted its holdings in Mesa Laboratories by 34.1% during the 3rd quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 100 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Mesa Laboratories in the 3rd quarter worth approximately $70,000. Berry Wealth Group LP bought a new stake in shares of Mesa Laboratories in the 3rd quarter valued at approximately $204,000. Finally, Amalgamated Bank raised its position in shares of Mesa Laboratories by 6.5% during the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock valued at $206,000 after acquiring an additional 97 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.