Mesa Laboratories (NASDAQ:MLAB) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Mesa Laboratories (NASDAQ:MLAB) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Mesa Laboratories from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Evercore ISI started coverage on shares of Mesa Laboratories in a research report on Monday, August 26th. They set an outperform rating and a $250.00 price objective on the stock. ValuEngine lowered shares of Mesa Laboratories from a hold rating to a sell rating in a research report on Thursday, October 10th. Finally, TheStreet raised shares of Mesa Laboratories from a c+ rating to a b rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $247.00.

Shares of NASDAQ MLAB opened at $213.21 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. Mesa Laboratories has a 12 month low of $169.80 and a 12 month high of $268.47. The company has a market cap of $929.60 million, a price-to-earnings ratio of 39.70 and a beta of 0.26. The business has a fifty day simple moving average of $228.52 and a 200-day simple moving average of $231.51.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings data on Tuesday, July 30th. The medical instruments supplier reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.14. Mesa Laboratories had a return on equity of 19.67% and a net margin of 7.53%. The business had revenue of $26.29 million during the quarter, compared to analyst estimates of $25.70 million. As a group, sell-side analysts expect that Mesa Laboratories will post 7.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.64 annualized dividend and a yield of 0.30%. Mesa Laboratories’s dividend payout ratio (DPR) is currently 11.92%.

A number of hedge funds and other institutional investors have recently bought and sold shares of MLAB. BlackRock Inc. raised its stake in shares of Mesa Laboratories by 151.9% in the 2nd quarter. BlackRock Inc. now owns 592,726 shares of the medical instruments supplier’s stock valued at $144,828,000 after acquiring an additional 357,398 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Mesa Laboratories by 28.2% in the second quarter. Vanguard Group Inc. now owns 225,842 shares of the medical instruments supplier’s stock valued at $55,183,000 after purchasing an additional 49,651 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of Mesa Laboratories by 2,072.7% in the second quarter. Kistler Tiffany Companies LLC now owns 29,440 shares of the medical instruments supplier’s stock valued at $7,193,000 after purchasing an additional 28,085 shares during the period. Bank of New York Mellon Corp raised its position in shares of Mesa Laboratories by 147.4% in the second quarter. Bank of New York Mellon Corp now owns 44,314 shares of the medical instruments supplier’s stock valued at $10,828,000 after purchasing an additional 26,405 shares during the period. Finally, Invesco Ltd. raised its position in shares of Mesa Laboratories by 564.8% in the second quarter. Invesco Ltd. now owns 28,029 shares of the medical instruments supplier’s stock valued at $6,848,000 after purchasing an additional 23,813 shares during the period. Institutional investors own 81.33% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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