Mesa Laboratories (NASDAQ:MLAB) SVP Sells $116,561.77 in Stock

Mesa Laboratories, Inc. (NASDAQ:MLAB) SVP Brian David Archbold sold 1,151 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $101.27, for a total value of $116,561.77. Following the completion of the sale, the senior vice president owned 3,710 shares of the company’s stock, valued at approximately $375,711.70. This trade represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB traded down $4.85 during midday trading on Wednesday, reaching $94.84. The company’s stock had a trading volume of 154,655 shares, compared to its average volume of 136,917. Mesa Laboratories, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $113.99. The company has a market capitalization of $523.96 million, a P/E ratio of 79.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.72 and a quick ratio of 1.29. The business’s fifty day simple moving average is $101.88 and its 200-day simple moving average is $90.54.

Mesa Laboratories (NASDAQ:MLAB) last announced 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). 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 during the quarter, compared to analyst estimates of $65.21 million. During the same quarter last year, the business posted ($1.31) earnings per share.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.16 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.7%. Mesa Laboratories’s dividend payout ratio (DPR) is 53.33%.

Hedge Funds Weigh In On Mesa Laboratories

Several hedge funds have recently added to or reduced their stakes in MLAB. Bank of America Corp DE boosted its holdings in Mesa Laboratories by 5.9% during the first quarter. Bank of America Corp DE now owns 57,871 shares of the medical instruments supplier’s stock worth $5,117,000 after buying an additional 3,207 shares during the last quarter. Royal Bank of Canada boosted its holdings in Mesa Laboratories by 143.3% during the first quarter. Royal Bank of Canada now owns 13,275 shares of the medical instruments supplier’s stock worth $1,173,000 after buying an additional 7,818 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Mesa Laboratories by 17.9% during the first quarter. Quantinno Capital Management LP now owns 4,318 shares of the medical instruments supplier’s stock worth $382,000 after buying an additional 657 shares during the last quarter. Lazard Asset Management LLC bought a new position in Mesa Laboratories during the first quarter worth about $1,797,000. Finally, Renaissance Technologies LLC boosted its holdings in Mesa Laboratories by 802.9% during the first quarter. Renaissance Technologies LLC now owns 31,600 shares of the medical instruments supplier’s stock worth $2,794,000 after buying an additional 28,100 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

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

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.