Mesa Laboratories (NASDAQ:MLAB) Stock Price Down 7.7% – Should You Sell?

Mesa Laboratories, Inc. (NASDAQ:MLAB) was down 7.7% during mid-day trading on Thursday . The stock traded as low as $120.07 and last traded at $123.80. Approximately 5,496 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 41,226 shares. The stock had previously closed at $134.16.

Analysts Set New Price Targets

MLAB has been the subject of several research reports. Evercore ISI increased their price target on shares of Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a research report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price target for the company. Finally, StockNews.com raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday.

Mesa Laboratories Stock Performance

The stock has a market capitalization of $637.78 million, a PE ratio of -2.89 and a beta of 0.87. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37. The business’s fifty day moving average price is $125.26 and its 200-day moving average price is $114.55.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.55. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. The firm had revenue of $58.17 million for the quarter, compared to the consensus estimate of $55.90 million. As a group, equities research analysts expect that Mesa Laboratories, Inc. will post 7.91 EPS for the current year.

Mesa Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s dividend payout ratio is currently -1.38%.

Insider Buying and Selling at Mesa Laboratories

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total value of $187,375.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary M. Owens sold 2,518 shares of Mesa Laboratories stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total transaction of $286,095.16. Following the completion of the sale, the chief executive officer now owns 45,888 shares in the company, valued at approximately $5,213,794.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Mesa Laboratories by 6.5% in the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 97 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Mesa Laboratories by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock valued at $226,000 after purchasing an additional 100 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Mesa Laboratories by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier’s stock valued at $316,000 after purchasing an additional 175 shares during the period. EntryPoint Capital LLC grew its stake in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after purchasing an additional 193 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Mesa Laboratories during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About Mesa Laboratories

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.