Mesa Laboratories (NASDAQ:MLAB) Stock Crosses Above 200 Day Moving Average of $99.57

Mesa Laboratories, Inc. (NASDAQ:MLAB) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $99.57 and traded as high as $103.32. Mesa Laboratories shares last traded at $99.62, with a volume of 31,078 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Evercore ISI increased their price target on shares of Mesa Laboratories from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th.

Mesa Laboratories Price Performance

The company has a quick ratio of 1.86, a current ratio of 2.68 and a debt-to-equity ratio of 0.58. The stock has a market cap of $536.95 million, a P/E ratio of 586.03 and a beta of 0.83. The business’s 50-day simple moving average is $104.33 and its two-hundred day simple moving average is $99.57.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Monday, February 5th. The medical instruments supplier reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.01). The business had revenue of $53.47 million for the quarter, compared to the consensus estimate of $54.90 million. Mesa Laboratories had a return on equity of 7.41% and a net margin of 0.45%. Sell-side analysts expect that Mesa Laboratories, Inc. will post 6.15 EPS for the current year.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. Mesa Laboratories’s dividend payout ratio is presently 376.49%.

Hedge Funds Weigh In On Mesa Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Mesa Laboratories by 808.7% in the fourth quarter. Morgan Stanley now owns 263,735 shares of the medical instruments supplier’s stock worth $43,835,000 after buying an additional 234,712 shares in the last quarter. Boone Capital Management LLC purchased a new stake in shares of Mesa Laboratories in the fourth quarter worth about $6,712,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Mesa Laboratories by 9.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier’s stock worth $60,606,000 after buying an additional 48,253 shares in the last quarter. Comerica Bank purchased a new stake in shares of Mesa Laboratories in the third quarter worth about $4,849,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Mesa Laboratories by 87.4% in the third quarter. Glenmede Trust Co. NA now owns 94,337 shares of the medical instruments supplier’s stock worth $9,912,000 after buying an additional 44,002 shares in the last quarter. Institutional investors own 90.60% 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.