Mesa Laboratories (NASDAQ:MLAB) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Mesa Laboratories, Inc. (NASDAQ:MLAB) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.16 and traded as high as $79.91. Mesa Laboratories shares last traded at $77.77, with a volume of 82,088 shares.

Analyst Upgrades and Downgrades

MLAB has been the subject of several recent research reports. Wall Street Zen upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Mesa Laboratories in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Mesa Laboratories currently has an average rating of “Reduce” and a consensus target price of $67.00.

Mesa Laboratories Price Performance

The firm has a market cap of $429.29 million, a PE ratio of -243.03 and a beta of 0.90. The firm’s fifty day simple moving average is $75.50 and its two-hundred day simple moving average is $78.16. The company has a quick ratio of 1.44, a current ratio of 2.02 and a debt-to-equity ratio of 0.95.

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 0.8%. Mesa Laboratories’s dividend payout ratio is currently -200.00%.

Institutional Investors Weigh In On Mesa Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mesa Laboratories by 4.9% during 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 purchasing an additional 143 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Mesa Laboratories by 5.5% in the second quarter. Franklin Resources Inc. now owns 3,476 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 182 shares in the last quarter. American Century Companies Inc. lifted its stake in Mesa Laboratories by 1.5% in the second quarter. American Century Companies Inc. now owns 13,431 shares of the medical instruments supplier’s stock worth $1,265,000 after acquiring an additional 194 shares during the period. CWM LLC grew its holdings in Mesa Laboratories by 48.9% during the 3rd quarter. CWM LLC now owns 597 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 196 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Mesa Laboratories by 7.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,224 shares of the medical instruments supplier’s stock worth $303,000 after acquiring an additional 213 shares in the last quarter. 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.