Insider Selling: Mesa Laboratories, Inc. (NASDAQ:MLAB) CEO Sells $286,095.16 in Stock

Mesa Laboratories, Inc. (NASDAQ:MLAB) CEO Gary M. Owens sold 2,518 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $113.62, for a total value of $286,095.16. Following the sale, the chief executive officer now owns 45,888 shares of the company’s stock, valued at $5,213,794.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mesa Laboratories Trading Down 0.8 %

Shares of NASDAQ:MLAB opened at $114.04 on Friday. The business’s 50-day moving average is $126.73 and its 200 day moving average is $113.87. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37. Mesa Laboratories, Inc. has a 1 year low of $82.86 and a 1 year high of $141.17. The firm has a market capitalization of $616.84 million, a P/E ratio of -2.46 and a beta of 0.85.

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

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.56%. Mesa Laboratories’s payout ratio is currently -1.38%.

Hedge Funds Weigh In On Mesa Laboratories

Hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in Mesa Laboratories during the 2nd quarter worth about $26,000. EntryPoint Capital LLC raised its stake in shares of Mesa Laboratories by 35.2% in the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after purchasing an additional 193 shares during the last quarter. Berry Wealth Group LP acquired a new stake in shares of Mesa Laboratories during the third quarter worth about $204,000. Amalgamated Bank boosted its position in Mesa Laboratories by 6.5% in the third quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 97 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Mesa Laboratories in the second quarter valued at approximately $183,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a research note on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st.

Mesa Laboratories Company Profile

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.