Mesa Laboratories (NASDAQ:MLAB) Reaches New 12-Month Low at $179.62

Shares of Mesa Laboratories, Inc. (NASDAQ:MLABGet Rating) hit a new 52-week low during trading on Thursday . The stock traded as low as $179.62 and last traded at $179.85, with a volume of 16 shares changing hands. The stock had previously closed at $185.57.

Separately, StockNews.com began coverage on shares of Mesa Laboratories in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

The firm has a market capitalization of $954.83 million, a PE ratio of 530.22 and a beta of 0.54. The company’s 50-day moving average price is $221.28 and its 200-day moving average price is $262.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.07 and a current ratio of 2.59.

Mesa Laboratories (NASDAQ:MLABGet Rating) last announced its quarterly earnings results on Tuesday, May 31st. The medical instruments supplier reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.82). Mesa Laboratories had a net margin of 1.01% and a return on equity of 6.30%. As a group, analysts anticipate that Mesa Laboratories, Inc. will post 8.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.35%. Mesa Laboratories’s dividend payout ratio is presently 182.86%.

In other Mesa Laboratories news, CFO John Sakys sold 930 shares of the company’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $251.29, for a total transaction of $233,699.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John James Sullivan sold 5,192 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $207.76, for a total transaction of $1,078,689.92. Following the transaction, the director now owns 23,857 shares in the company, valued at $4,956,530.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,194 shares of company stock worth $1,330,421. 5.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Mesa Laboratories by 22.8% during the fourth quarter. Principal Financial Group Inc. now owns 90,735 shares of the medical instruments supplier’s stock worth $29,601,000 after buying an additional 16,855 shares during the period. Bridgewater Associates LP lifted its holdings in shares of Mesa Laboratories by 8.9% in the fourth quarter. Bridgewater Associates LP now owns 5,538 shares of the medical instruments supplier’s stock valued at $1,817,000 after purchasing an additional 451 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Mesa Laboratories in the fourth quarter valued at about $381,000. Public Sector Pension Investment Board lifted its holdings in shares of Mesa Laboratories by 1.1% in the fourth quarter. Public Sector Pension Investment Board now owns 10,638 shares of the medical instruments supplier’s stock valued at $3,490,000 after purchasing an additional 120 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Mesa Laboratories by 14.3% in the third quarter. Renaissance Technologies LLC now owns 27,100 shares of the medical instruments supplier’s stock valued at $8,194,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors own 91.90% of the company’s stock.

About Mesa Laboratories (NASDAQ:MLAB)

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products in the United States, Europe, Asia, North America, and internationally. The company's Sterilization and Disinfection Control segment manufactures and sells biological, cleaning, and chemical indicators that are used to assess the effectiveness of sterilization and disinfection processes in the hospital, dental, medical device, and pharmaceutical industries.

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