Mesa Laboratories (NASDAQ:MLAB) Hits New 52-Week High – Here’s What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $113.09 and last traded at $113.51, with a volume of 24604 shares changing hands. The stock had previously closed at $108.46.

Analyst Ratings Changes

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

Mesa Laboratories Trading Up 0.6%

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 business’s 50-day moving average is $99.75 and its two-hundred day moving average is $89.27. The firm has a market cap of $602.31 million, a P/E ratio of 90.93 and a beta of 0.94.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings data 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). Mesa Laboratories had a net margin of 2.69% and a return on equity of 20.96%. The business had revenue of $63.72 million for the quarter, compared to the consensus estimate of $65.21 million. During the same period in the prior year, the company earned ($1.31) EPS. As a group, analysts expect that Mesa Laboratories, Inc. will post 8.74 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Mesa Laboratories’s dividend payout ratio is currently 53.33%.

Institutional Trading of Mesa Laboratories

A number of large investors have recently modified their holdings of the company. Boston Partners increased its holdings in shares of Mesa Laboratories by 86.6% in the 4th quarter. Boston Partners now owns 213,376 shares of the medical instruments supplier’s stock worth $16,752,000 after acquiring an additional 99,019 shares during the period. Simcoe Capital Management LLC bought a new position in Mesa Laboratories in the 3rd quarter worth about $12,794,000. Royce & Associates LP grew its position in Mesa Laboratories by 3.2% in the 4th quarter. Royce & Associates LP now owns 153,352 shares of the medical instruments supplier’s stock worth $12,038,000 after purchasing an additional 4,794 shares during the last quarter. Kennedy Capital Management LLC grew its position in Mesa Laboratories by 19.0% in the 4th quarter. Kennedy Capital Management LLC now owns 144,606 shares of the medical instruments supplier’s stock worth $11,352,000 after purchasing an additional 23,060 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Mesa Laboratories by 15.1% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier’s stock worth $11,145,000 after purchasing an additional 18,592 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.