Oppenheimer Asset Management Inc. Sells 234 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

Oppenheimer Asset Management Inc. cut its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLABGet Rating) by 10.3% in the first quarter, Holdings Channel reports. The fund owned 2,048 shares of the medical instruments supplier’s stock after selling 234 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Mesa Laboratories were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Confluence Wealth Services Inc. acquired a new stake in shares of Mesa Laboratories in the fourth quarter valued at $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Mesa Laboratories in the first quarter valued at $44,000. Hardy Reed LLC acquired a new stake in shares of Mesa Laboratories in the first quarter valued at $130,000. Lindenwold Advisors increased its stake in shares of Mesa Laboratories by 5.9% in the first quarter. Lindenwold Advisors now owns 903 shares of the medical instruments supplier’s stock valued at $230,000 after buying an additional 50 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Mesa Laboratories by 8.5% in the first quarter. Teacher Retirement System of Texas now owns 1,084 shares of the medical instruments supplier’s stock valued at $276,000 after buying an additional 85 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Mesa Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.

Insider Buying and Selling

In related news, SVP Brian David Archbold sold 392 shares of Mesa Laboratories stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $188.22, for a total value of $73,782.24. Following the completion of the sale, the senior vice president now directly owns 813 shares in the company, valued at $153,022.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Brian David Archbold sold 392 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $188.22, for a total transaction of $73,782.24. Following the completion of the transaction, the senior vice president now directly owns 813 shares in the company, valued at approximately $153,022.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John James Sullivan sold 5,192 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $207.76, for a total value of $1,078,689.92. Following the transaction, the director now owns 23,857 shares of the company’s stock, valued at $4,956,530.32. The disclosure for this sale can be found here. Insiders sold a total of 11,754 shares of company stock worth $2,342,956 over the last three months. 5.50% of the stock is currently owned by company insiders.

Mesa Laboratories Price Performance

Shares of MLAB stock opened at $163.97 on Monday. The stock has a 50-day moving average price of $197.13 and a 200 day moving average price of $221.08. The company has a quick ratio of 2.29, a current ratio of 2.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $871.83 million, a price-to-earnings ratio of -546.55 and a beta of 0.52. Mesa Laboratories, Inc. has a 12 month low of $163.30 and a 12 month high of $333.42.

Mesa Laboratories (NASDAQ:MLABGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The medical instruments supplier reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.05). The firm had revenue of $50.45 million during the quarter, compared to analyst estimates of $52.63 million. Mesa Laboratories had a positive return on equity of 5.80% and a negative net margin of 0.78%. Research analysts expect that Mesa Laboratories, Inc. will post 6.08 EPS for the current year.

Mesa Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.16 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. Mesa Laboratories’s payout ratio is -213.33%.

About Mesa Laboratories

(Get Rating)

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in the United States, Europe, the Asia Pacific, and internationally. The company's Sterilization and Disinfection Control segment manufactures and sells biological, cleaning, and chemical indicators that are used to assess the effectiveness of sterilization and disinfection processes in the hospital, dental, medical device, and pharmaceutical industries.

Further Reading

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Institutional Ownership by Quarter for Mesa Laboratories (NASDAQ:MLAB)

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