Mesa Laboratories (NASDAQ:MLAB) Stock Passes Above 200 Day Moving Average – Here’s Why

Mesa Laboratories, Inc. (NASDAQ:MLAB) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $94.55 and traded as high as $101.10. Mesa Laboratories shares last traded at $101.04, with a volume of 90,861 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Mesa Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Mesa Laboratories currently has an average rating of “Reduce” and a consensus price target of $94.00.

Mesa Laboratories Price Performance

The stock has a market capitalization of $564.54 million, a price-to-earnings ratio of 84.01 and a beta of 0.93. The company has a current ratio of 1.72, a quick ratio of 1.29 and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $100.30 and a 200 day simple moving average of $94.59.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Wednesday, May 27th. The medical instruments supplier reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.25). The business had revenue of $63.72 million during the quarter, compared to analyst estimates of $65.21 million. Mesa Laboratories had a net margin of 2.69% and a return on equity of 20.96%. During the same quarter in the prior year, the company earned ($1.31) EPS.

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.16 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 0.6%. Mesa Laboratories’s payout ratio is 53.33%.

Insider Activity at Mesa Laboratories

In related news, SVP Brian David Archbold sold 2,516 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $89.50, for a total value of $225,182.00. Following the transaction, the senior vice president owned 6,377 shares in the company, valued at approximately $570,741.50. This represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lyndsey Elizabeth Crennen sold 442 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $39,559.00. Following the transaction, the chief accounting officer owned 2,020 shares in the company, valued at $180,790. This represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 8,277 shares of company stock valued at $770,122. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mesa Laboratories by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier’s stock valued at $364,000 after acquiring an additional 143 shares during the period. American Century Companies Inc. boosted its stake in shares of Mesa Laboratories by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 13,431 shares of the medical instruments supplier’s stock valued at $1,265,000 after purchasing an additional 194 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Mesa Laboratories by 30.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 243 shares during the last quarter. Deutsche Bank AG increased its position in shares of Mesa Laboratories by 5.9% during the 4th quarter. Deutsche Bank AG now owns 4,440 shares of the medical instruments supplier’s stock worth $349,000 after purchasing an additional 248 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Mesa Laboratories by 5,366.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About Mesa Laboratories

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.