Mesa Laboratories (NASDAQ:MLAB) Trading Up 9.1% Following Better-Than-Expected Earnings

Mesa Laboratories, Inc. (NASDAQ:MLAB) shares shot up 9.1% on Wednesday following a better than expected earnings announcement. The company traded as high as $89.09 and last traded at $95.5350. 2,021 shares were traded during mid-day trading, a decline of 98% from the average session volume of 94,279 shares. The stock had previously closed at $87.53.

The medical instruments supplier reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.66. Mesa Laboratories had a return on equity of 22.02% and a net margin of 1.51%.The firm had revenue of $65.13 million for the quarter, compared to the consensus estimate of $63.23 million.

Mesa Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Saturday, February 28th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 27th. Mesa Laboratories’s payout ratio is currently 100.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MLAB shares. Weiss Ratings restated a “sell (d)” rating on shares of Mesa Laboratories in a research note on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of Mesa Laboratories from $83.00 to $94.00 and gave the company an “equal weight” rating in a research note on Wednesday. Zacks Research raised shares of Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mesa Laboratories has a consensus rating of “Reduce” and an average price target of $94.00.

Hedge Funds Weigh In On Mesa Laboratories

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Mesa Laboratories by 1.2% in the first quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier’s stock worth $3,652,000 after purchasing an additional 353 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Mesa Laboratories during the 1st quarter worth about $335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mesa Laboratories by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier’s stock valued at $364,000 after buying an additional 143 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Mesa Laboratories by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 19,977 shares of the medical instruments supplier’s stock valued at $2,370,000 after buying an additional 685 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Mesa Laboratories by 7.1% in the second quarter. State of Alaska Department of Revenue now owns 3,224 shares of the medical instruments supplier’s stock valued at $303,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Mesa Laboratories Stock Down 0.4%

The stock has a 50-day moving average price of $81.85 and a 200-day moving average price of $74.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.94 and a quick ratio of 1.44. The company has a market capitalization of $503.42 million, a P/E ratio of 142.50 and a beta of 0.89.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.