Mesa Laboratories (NASDAQ:MLAB) CEO Siddhartha Kadia Acquires 7,093 Shares

Mesa Laboratories, Inc. (NASDAQ:MLAB) CEO Siddhartha Kadia purchased 7,093 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $112.80 per share, for a total transaction of $800,090.40. Following the purchase, the chief executive officer directly owned 7,093 shares in the company, valued at approximately $800,090.40. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mesa Laboratories Stock Performance

MLAB opened at $107.64 on Tuesday. The stock has a market cap of $602.78 million, a P/E ratio of 128.14 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $100.62 and its 200 day simple moving average is $96.26. Mesa Laboratories, Inc. has a 1-year low of $58.83 and a 1-year high of $115.52.

Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings data on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share for the quarter. The firm had revenue of $60.14 million during the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.

Mesa Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid 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 Monday, August 31st. Mesa Laboratories’s dividend payout ratio (DPR) is 76.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MLAB. Wall Street Zen lowered Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company raised their price target on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Weiss Ratings raised Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.00.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds have recently modified their holdings of MLAB. Ranger Investment Management L.P. purchased a new stake in shares of Mesa Laboratories during the second quarter worth about $17,321,000. Globeflex Capital L P purchased a new position in shares of Mesa Laboratories during the second quarter valued at approximately $1,153,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Mesa Laboratories during the second quarter valued at approximately $15,507,000. Bank of New York Mellon Corp acquired a new stake in Mesa Laboratories during the second quarter worth approximately $4,540,000. Finally, Wasatch Advisors LP grew its stake in Mesa Laboratories by 125.8% in the 2nd quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock worth $11,515,000 after acquiring an additional 64,435 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

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.