Mesa Laboratories (NASDAQ:MLAB) Price Target Cut to $100.00 by Analysts at Wells Fargo & Company

Mesa Laboratories (NASDAQ:MLAB) had its price target cut by Wells Fargo & Company from $120.00 to $100.00 in a research note published on Friday morning,Benzinga reports. They currently have an underweight rating on the medical instruments supplier’s stock.

Mesa Laboratories Stock Down 1.9%

NASDAQ MLAB opened at $102.68 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.53 and a current ratio of 0.71. The firm has a 50-day simple moving average of $115.26 and a 200 day simple moving average of $126.05. Mesa Laboratories has a twelve month low of $83.68 and a twelve month high of $155.12. The stock has a market cap of $557.96 million, a PE ratio of -2.22 and a beta of 0.97.

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, May 30th. Mesa Laboratories’s payout ratio is presently -1.38%.

Insider Activity

In other Mesa Laboratories news, CEO Gary M. Owens sold 21,000 shares of Mesa Laboratories stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $123.91, for a total transaction of $2,602,110.00. Following the sale, the chief executive officer now owns 43,337 shares in the company, valued at $5,369,887.67. The trade was a 32.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mesa Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in MLAB. State of Wyoming raised its position in Mesa Laboratories by 501.4% in the first quarter. State of Wyoming now owns 427 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 356 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Mesa Laboratories during the first quarter valued at approximately $67,000. Amundi grew its stake in shares of Mesa Laboratories by 81.6% in the 4th quarter. Amundi now owns 661 shares of the medical instruments supplier’s stock valued at $91,000 after purchasing an additional 297 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Mesa Laboratories in the 4th quarter worth approximately $92,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Mesa Laboratories in the 4th quarter worth approximately $132,000. 90.60% of the stock is owned by institutional investors.

Mesa Laboratories Company Profile

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.