Mesa Laboratories (NASDAQ:MLAB) Shares Down 7.8% After Insider Selling

Mesa Laboratories, Inc. (NASDAQ:MLABGet Rating) shares traded down 7.8% during trading on Tuesday following insider selling activity. The stock traded as low as $169.79 and last traded at $169.79. 619 shares traded hands during trading, a decline of 99% from the average session volume of 73,478 shares. The stock had previously closed at $184.15.

Specifically, Director John Bradley Schmieder sold 2,500 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $175.45, for a total transaction of $438,625.00. Following the transaction, the director now owns 68,976 shares of the company’s stock, valued at $12,101,839.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MLAB shares. Evercore ISI increased their price target on shares of Mesa Laboratories to $166.00 in a research note on Tuesday, November 15th. StockNews.com raised shares of Mesa Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, November 4th.

Mesa Laboratories Stock Performance

The stock’s fifty day moving average is $147.40 and its two-hundred day moving average is $179.76. The firm has a market capitalization of $906.76 million, a price-to-earnings ratio of -223.55 and a beta of 0.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.13 and a current ratio of 2.80.

Mesa Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, November 29th. Mesa Laboratories’s payout ratio is -84.21%.

Institutional Investors Weigh In On Mesa Laboratories

A number of large investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Mesa Laboratories during the 3rd quarter valued at $168,000. M&T Bank Corp grew its holdings in Mesa Laboratories by 5.7% during the 3rd quarter. M&T Bank Corp now owns 4,119 shares of the medical instruments supplier’s stock valued at $580,000 after purchasing an additional 221 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in Mesa Laboratories by 67.7% during the 3rd quarter. Balyasny Asset Management LLC now owns 4,338 shares of the medical instruments supplier’s stock valued at $611,000 after purchasing an additional 1,751 shares in the last quarter. Jane Street Group LLC grew its holdings in Mesa Laboratories by 74.9% during the 3rd quarter. Jane Street Group LLC now owns 3,647 shares of the medical instruments supplier’s stock worth $514,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Mesa Laboratories by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 14,479 shares of the medical instruments supplier’s stock worth $2,039,000 after acquiring an additional 63 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

About Mesa Laboratories

(Get Rating)

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in the United States, Europe, the Asia Pacific, 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.

Further Reading

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