Mesa Laboratories (NASDAQ:MLAB) Stock Price Down 7.7% – Here’s What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s stock price dropped 7.7% during mid-day trading on Thursday . The stock traded as low as $120.07 and last traded at $123.80. Approximately 5,496 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 41,226 shares. The stock had previously closed at $134.16.

Analyst Ratings Changes

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

Mesa Laboratories Stock Up 0.8 %

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37. The company has a market capitalization of $642.81 million, a price-to-earnings ratio of -2.61 and a beta of 0.87. The firm has a 50-day moving average price of $124.64 and a two-hundred day moving average price of $114.69.

Mesa Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.54%. Mesa Laboratories’s dividend payout ratio is currently -1.40%.

Insider Transactions at Mesa Laboratories

In other news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $125.00, for a total value of $187,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $125.00, for a total value of $187,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 45,888 shares in the company, valued at approximately $5,213,794.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Mesa Laboratories by 4.5% in the first quarter. BNP Paribas Financial Markets now owns 7,565 shares of the medical instruments supplier’s stock valued at $830,000 after buying an additional 327 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in Mesa Laboratories by 643.8% during the first quarter. Motley Fool Asset Management LLC now owns 64,776 shares of the medical instruments supplier’s stock worth $7,108,000 after purchasing an additional 56,067 shares during the period. Vanguard Group Inc. increased its holdings in shares of Mesa Laboratories by 0.8% in the first quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier’s stock valued at $40,973,000 after purchasing an additional 3,119 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Mesa Laboratories by 7.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,968 shares of the medical instruments supplier’s stock valued at $761,000 after purchasing an additional 494 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after buying an additional 193 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.