Envestnet Asset Management Inc. Boosts Position in Mesa Laboratories, Inc. $MLAB

Envestnet Asset Management Inc. increased its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,483 shares of the medical instruments supplier’s stock after acquiring an additional 1,425 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mesa Laboratories were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MLAB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mesa Laboratories by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier’s stock worth $364,000 after purchasing an additional 143 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Mesa Laboratories by 7.1% in the 2nd 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. Royal Bank of Canada increased its holdings in shares of Mesa Laboratories by 1.2% during the 1st quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier’s stock worth $3,652,000 after buying an additional 353 shares during the last quarter. State of Wyoming raised its position in shares of Mesa Laboratories by 501.4% during the 1st quarter. State of Wyoming now owns 427 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 356 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of Mesa Laboratories by 22.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,036 shares of the medical instruments supplier’s stock valued at $242,000 after buying an additional 373 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Stock Down 1.4%

MLAB stock opened at $70.61 on Wednesday. The stock has a market cap of $389.91 million, a P/E ratio of -504.36 and a beta of 0.89. The company has a current ratio of 0.66, a quick ratio of 0.47 and a debt-to-equity ratio of 0.46. Mesa Laboratories, Inc. has a twelve month low of $55.45 and a twelve month high of $155.12. The company’s 50 day moving average is $71.86 and its two-hundred day moving average is $82.87.

Mesa Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 28th. Mesa Laboratories’s dividend payout ratio (DPR) is currently -200.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research upgraded Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Mesa Laboratories in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company raised shares of Mesa Laboratories from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $100.00 to $67.00 in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $67.00.

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.