Mesa Laboratories, Inc. (MLAB) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) from a buy rating to a strong sell rating in a research note published on Friday.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Mesa Laboratories from a hold rating to a sell rating in a research report on Monday, July 31st. TheStreet cut shares of Mesa Laboratories from a b rating to a c+ rating in a research report on Monday, July 31st.

Mesa Laboratories (NASDAQ:MLAB) traded up $1.04 during trading on Friday, reaching $126.88. 17,600 shares of the company’s stock traded hands, compared to its average volume of 15,605. The stock has a market cap of $480.18, a PE ratio of 33.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.97 and a current ratio of 2.86. Mesa Laboratories has a 12 month low of $109.14 and a 12 month high of $169.80.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, November 6th. The medical instruments supplier reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). Mesa Laboratories had a return on equity of 14.77% and a net margin of 11.48%. The business had revenue of $22.95 million during the quarter, compared to analysts’ expectations of $25.50 million. research analysts predict that Mesa Laboratories will post 2.47 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.50%. Mesa Laboratories’s payout ratio is 23.10%.

In related news, Director H Stuart Campbell sold 2,000 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.42, for a total transaction of $260,840.00. Following the sale, the director now directly owns 44,366 shares of the company’s stock, valued at $5,786,213.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,002 shares of company stock worth $391,268 in the last quarter. Company insiders own 15.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MLAB. Pembroke Management LTD purchased a new stake in Mesa Laboratories during the second quarter worth $8,283,000. Thomson Horstmann & Bryant Inc. lifted its stake in shares of Mesa Laboratories by 75.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 72,362 shares of the medical instruments supplier’s stock worth $10,370,000 after buying an additional 31,107 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Mesa Laboratories by 56.8% in the second quarter. Royce & Associates LP now owns 78,530 shares of the medical instruments supplier’s stock worth $11,254,000 after buying an additional 28,458 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of Mesa Laboratories by 5.8% in the third quarter. Conestoga Capital Advisors LLC now owns 373,227 shares of the medical instruments supplier’s stock worth $55,730,000 after buying an additional 20,489 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Mesa Laboratories by 11.8% in the third quarter. Victory Capital Management Inc. now owns 147,468 shares of the medical instruments supplier’s stock worth $22,020,000 after buying an additional 15,580 shares in the last quarter. 68.83% of the stock is currently owned by hedge funds and other institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.

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