Mesa Laboratories (NASDAQ:MLAB) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Mesa Laboratories (NASDAQ:MLAB) in a research report report published on Wednesday, Benzinga reports. The brokerage issued a buy rating and a $275.00 price target on the medical instruments supplier’s stock.

Several other research analysts also recently commented on the company. BidaskClub downgraded Mesa Laboratories from a buy rating to a hold rating in a research note on Thursday, November 21st. Zacks Investment Research downgraded Mesa Laboratories from a hold rating to a strong sell rating in a research note on Wednesday, November 6th. Evercore ISI started coverage on Mesa Laboratories in a research note on Monday, August 26th. They set an outperform rating and a $250.00 price objective for the company. Finally, ValuEngine raised shares of Mesa Laboratories from a hold rating to a buy rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $256.33.

NASDAQ:MLAB traded down $2.15 during mid-day trading on Wednesday, hitting $248.10. 72,790 shares of the company traded hands, compared to its average volume of 56,267. The stock’s fifty day moving average price is $231.18 and its 200-day moving average price is $230.12. Mesa Laboratories has a one year low of $181.21 and a one year high of $268.47. The company has a quick ratio of 15.76, a current ratio of 16.17 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 46.20 and a beta of 0.20.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Wednesday, November 27th. Mesa Laboratories’s dividend payout ratio (DPR) is 11.92%.

In related news, Director John Bradley Schmieder sold 700 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $238.06, for a total value of $166,642.00. Following the completion of the transaction, the director now owns 75,119 shares of the company’s stock, valued at approximately $17,882,829.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.03% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MLAB. Metropolitan Life Insurance Co NY grew its holdings in Mesa Laboratories by 4.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 1,199 shares of the medical instruments supplier’s stock valued at $285,000 after buying an additional 48 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Mesa Laboratories by 4.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,120 shares of the medical instruments supplier’s stock valued at $518,000 after acquiring an additional 93 shares during the last quarter. Aperio Group LLC purchased a new stake in Mesa Laboratories in the 2nd quarter worth $27,000. LS Investment Advisors LLC purchased a new stake in Mesa Laboratories in the 2nd quarter worth $28,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Mesa Laboratories by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 937 shares of the medical instruments supplier’s stock valued at $222,000 after purchasing an additional 116 shares during the last quarter. 91.17% of the stock is currently owned by institutional investors.

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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