Mesa Laboratories (NASDAQ:MLAB) Shares Gap Down to $130.57

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price gapped down before the market opened on Friday . The stock had previously closed at $130.57, but opened at $127.56. Mesa Laboratories shares last traded at $126.51, with a volume of 3,859 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Mesa Laboratories in a report on Thursday, August 17th. They set a “hold” rating for the company.

Mesa Laboratories Stock Down 6.0 %

The company has a quick ratio of 2.03, a current ratio of 2.93 and a debt-to-equity ratio of 0.45. The company has a market cap of $660.34 million, a price-to-earnings ratio of 371.95 and a beta of 0.72. The stock has a fifty day moving average price of $131.92 and a two-hundred day moving average price of $148.87.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Mesa Laboratories had a return on equity of 9.36% and a net margin of 0.83%. The company had revenue of $50.65 million during the quarter, compared to the consensus estimate of $51.85 million. As a group, sell-side analysts expect that Mesa Laboratories, Inc. will post 5.67 EPS for the current year.

Mesa Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, August 30th. Mesa Laboratories’s payout ratio is currently 193.95%.

Insider Buying and Selling

In related news, CEO Gary M. Owens sold 2,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $142.82, for a total value of $285,640.00. Following the transaction, the chief executive officer now owns 30,032 shares in the company, valued at $4,289,170.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ranger Investment Management L.P. increased its position in shares of Mesa Laboratories by 4.7% in the first quarter. Ranger Investment Management L.P. now owns 224,366 shares of the medical instruments supplier’s stock worth $39,203,000 after purchasing an additional 10,085 shares during the period. Principal Financial Group Inc. grew its position in Mesa Laboratories by 8.6% in the fourth quarter. Principal Financial Group Inc. now owns 150,522 shares of the medical instruments supplier’s stock valued at $25,018,000 after acquiring an additional 11,932 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Mesa Laboratories by 34.3% in the first quarter. Texas Permanent School Fund Corp now owns 4,507 shares of the medical instruments supplier’s stock valued at $788,000 after acquiring an additional 1,150 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Mesa Laboratories by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 578,459 shares of the medical instruments supplier’s stock valued at $101,074,000 after acquiring an additional 3,676 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Mesa Laboratories by 5.9% in the first quarter. Bahl & Gaynor Inc. now owns 5,142 shares of the medical instruments supplier’s stock valued at $898,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.