Sidoti Begins Coverage on Mesa Laboratories (MLAB)

Sidoti began coverage on shares of Mesa Laboratories (NASDAQ:MLAB) in a report published on Wednesday, The Fly reports. The firm issued a neutral rating on the medical instruments supplier’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Mesa Laboratories from a buy rating to a hold rating in a research note on Saturday, February 9th. TheStreet upgraded Mesa Laboratories from a c rating to a b- rating in a research note on Friday, February 8th. Finally, BidaskClub upgraded Mesa Laboratories from a buy rating to a strong-buy rating in a research note on Thursday, November 15th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $257.00.

MLAB opened at $235.90 on Wednesday. The firm has a market capitalization of $912.46 million, a P/E ratio of 38.17 and a beta of 0.38. Mesa Laboratories has a 1 year low of $131.51 and a 1 year high of $241.83. The company has a quick ratio of 1.20, a current ratio of 1.57 and a debt-to-equity ratio of 0.25.

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

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.27%. Mesa Laboratories’s payout ratio is 10.36%.

In other news, Director Evan Guillemin sold 1,746 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $232.31, for a total transaction of $405,613.26. Following the completion of the sale, the director now directly owns 50,214 shares in the company, valued at approximately $11,665,214.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Seg Ventures, Llc bought 40,000 shares of the business’s stock in a transaction dated Friday, December 21st. The shares were bought at an average price of $24.75 per share, with a total value of $990,000.00. Following the completion of the transaction, the director now owns 120,000 shares in the company, valued at approximately $2,970,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 19,158 shares of company stock valued at $4,450,329. Corporate insiders own 15.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of Mesa Laboratories by 14.1% during the 4th quarter. Legal & General Group Plc now owns 656 shares of the medical instruments supplier’s stock valued at $136,000 after acquiring an additional 81 shares during the period. BB&T Corp lifted its position in shares of Mesa Laboratories by 5.6% during the 4th quarter. BB&T Corp now owns 1,990 shares of the medical instruments supplier’s stock valued at $415,000 after acquiring an additional 105 shares during the period. Sapphire Star Partners LP lifted its position in shares of Mesa Laboratories by 2.6% during the 4th quarter. Sapphire Star Partners LP now owns 5,767 shares of the medical instruments supplier’s stock valued at $1,201,000 after acquiring an additional 148 shares during the period. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Mesa Laboratories during the 4th quarter valued at $34,000. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of Mesa Laboratories by 3.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 7,425 shares of the medical instruments supplier’s stock valued at $1,547,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 76.33% of the company’s stock.

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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