Sidoti Initiates Coverage on Mesa Laboratories (MLAB)

Investment analysts at Sidoti initiated coverage on shares of Mesa Laboratories (NASDAQ:MLAB) in a research note issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the medical instruments supplier’s stock.

Other research analysts have also issued research reports about the company. TheStreet raised Mesa Laboratories from a “c” rating to a “b-” rating in a research report on Friday, February 8th. Zacks Investment Research raised Mesa Laboratories from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research report on Friday, February 8th. Finally, BidaskClub lowered Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $257.00.

MLAB opened at $232.71 on Wednesday. The company has a market capitalization of $883.64 million, a PE ratio of 37.66 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.20. Mesa Laboratories has a 52 week low of $131.51 and a 52 week high of $241.83.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, February 4th. The medical instruments supplier reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Mesa Laboratories had a return on equity of 23.53% and a net margin of 9.98%. The company had revenue of $26.68 million during the quarter, compared to analyst estimates of $25.80 million. As a group, research analysts expect that Mesa Laboratories will post 5.1 earnings per share for the current fiscal year.

In related news, Director Seg Ventures, Llc acquired 40,000 shares of Mesa Laboratories stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average price of $24.75 per share, with a total value of $990,000.00. Following the transaction, the director now directly owns 120,000 shares in the company, valued at $2,970,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Bradley Schmieder sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $232.70, for a total value of $581,750.00. Following the transaction, the director now directly owns 75,939 shares of the company’s stock, valued at approximately $17,671,005.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,158 shares of company stock valued at $4,450,329. 15.00% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Mesa Laboratories by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 38,704 shares of the medical instruments supplier’s stock worth $8,065,000 after purchasing an additional 2,868 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mesa Laboratories by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 140,607 shares of the medical instruments supplier’s stock worth $29,301,000 after purchasing an additional 1,910 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Mesa Laboratories in the 4th quarter worth $2,022,000. Legal & General Group Plc increased its holdings in shares of Mesa Laboratories by 14.1% in the 4th quarter. Legal & General Group Plc now owns 656 shares of the medical instruments supplier’s stock worth $136,000 after purchasing an additional 81 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its holdings in shares of Mesa Laboratories by 75.4% in the 4th quarter. Ranger Investment Management L.P. now owns 157,019 shares of the medical instruments supplier’s stock worth $32,721,000 after purchasing an additional 67,492 shares in the last quarter. 76.33% of the stock is owned by institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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