Zacks: Mesa Laboratories, Inc. (MLAB) Receives Consensus Rating of “Strong Buy” from Analysts
Mesa Laboratories, Inc. (NASDAQ:MLAB) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price objective of $190.00 for the company and are expecting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also given Mesa Laboratories an industry rank of 101 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Mesa Laboratories from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Tuesday, May 23rd. TheStreet lowered Mesa Laboratories from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Finally, BidaskClub lowered Mesa Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.
In other news, Director Robert V. Dwyer sold 11,150 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $139.46, for a total value of $1,554,979.00. Following the sale, the director now directly owns 80,671 shares in the company, valued at $11,250,377.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director H Stuart Campbell sold 608 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $134.08, for a total value of $81,520.64. Following the completion of the sale, the director now owns 45,368 shares in the company, valued at $6,082,941.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,760 shares of company stock worth $2,731,788. Insiders own 17.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC purchased a new position in shares of Mesa Laboratories during the second quarter worth about $221,000. Strs Ohio grew its holdings in shares of Mesa Laboratories by 5.6% during the second quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock worth $272,000 after buying an additional 100 shares during the last quarter. BT Investment Management Ltd purchased a new position in shares of Mesa Laboratories during the second quarter worth about $277,000. Spark Investment Management LLC purchased a new position in shares of Mesa Laboratories during the second quarter worth about $300,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Mesa Laboratories by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,564 shares of the medical instruments supplier’s stock worth $367,000 after buying an additional 169 shares during the last quarter. 67.20% of the stock is currently owned by institutional investors.
Mesa Laboratories (NASDAQ:MLAB) traded up 0.670% during mid-day trading on Thursday, hitting $142.015. The company had a trading volume of 844 shares. Mesa Laboratories has a 12 month low of $109.14 and a 12 month high of $169.81. The company has a 50-day moving average price of $136.39 and a 200 day moving average price of $137.86. The firm has a market capitalization of $533.69 million, a P/E ratio of 51.048 and a beta of 0.47.
Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings results on Monday, July 31st. The medical instruments supplier reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.17). Mesa Laboratories had a return on equity of 16.58% and a net margin of 11.31%. The business had revenue of $22.67 million during the quarter, compared to analyst estimates of $22.90 million. Equities analysts forecast that Mesa Laboratories will post $2.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, August 29th. Mesa Laboratories’s payout ratio is currently 22.94%.
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Mesa Laboratories Company Profile
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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