Mesa Laboratories (NASDAQ:MLAB) Stock Price Down 6.9%

Mesa Laboratories, Inc. (NASDAQ:MLAB – Get Rating) shares were down 6.9% during mid-day trading on Wednesday . The stock traded as low as $144.76 and last traded at $144.76. Approximately 24,936 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 54,921 shares. The stock had previously closed at $155.47.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Mesa Laboratories in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Mesa Laboratories Stock Down 2.0 %

The business has a 50-day moving average price of $166.41 and a two-hundred day moving average price of $173.37. The company has a current ratio of 2.74, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49.

Mesa Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.45%. Mesa Laboratories’s dividend payout ratio (DPR) is currently -220.68%.

Insider Transactions at Mesa Laboratories

In other news, CFO John Sakys sold 2,128 shares of the business’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $167.01, for a total transaction of $355,397.28. Following the completion of the transaction, the chief financial officer now owns 9,696 shares of the company’s stock, valued at approximately $1,619,328.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 6,028 shares of company stock valued at $1,018,145. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of MLAB. Morgan Stanley increased its holdings in Mesa Laboratories by 808.7% in the 4th quarter. Morgan Stanley now owns 263,735 shares of the medical instruments supplier’s stock worth $43,835,000 after purchasing an additional 234,712 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Mesa Laboratories by 83.1% in the 4th quarter. Geneva Capital Management LLC now owns 191,816 shares of the medical instruments supplier’s stock worth $31,882,000 after purchasing an additional 87,031 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Mesa Laboratories by 17.8% in the 4th quarter. Conestoga Capital Advisors LLC now owns 574,783 shares of the medical instruments supplier’s stock worth $95,535,000 after purchasing an additional 86,648 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Mesa Laboratories by 115.8% in the fourth quarter. Point72 Asset Management L.P. now owns 78,014 shares of the medical instruments supplier’s stock valued at $12,967,000 after buying an additional 41,855 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Mesa Laboratories by 36.2% in the first quarter. Dimensional Fund Advisors LP now owns 106,812 shares of the medical instruments supplier’s stock valued at $18,663,000 after buying an additional 28,386 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

Mesa Laboratories Company Profile

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Mesa Laboratories, Inc engages in the design, manufacture, and market of instruments and disposable products utilized in healthcare, pharmaceutical, food and beverage, medical device, and petrochemical industries. It operates through the following segments: Sterilization and Disinfection Control, Instruments, Continuous Monitoring, and Biopharmaceutical Development.