Mesa Laboratories, Inc. (MLAB) Position Cut by Royal Bank of Canada
Royal Bank of Canada reduced its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,729 shares of the medical instruments supplier’s stock after selling 359 shares during the period. Royal Bank of Canada owned 0.07% of Mesa Laboratories worth $391,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new stake in Mesa Laboratories during the second quarter worth about $221,000. Strs Ohio increased its position in shares of Mesa Laboratories by 5.6% during the second quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock valued at $272,000 after acquiring an additional 100 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Mesa Laboratories during the second quarter valued at about $277,000. Spark Investment Management LLC acquired a new stake in shares of Mesa Laboratories during the second quarter valued at about $300,000. Finally, Alliancebernstein L.P. increased its position in shares of Mesa Laboratories by 52.9% during the second quarter. Alliancebernstein L.P. now owns 2,600 shares of the medical instruments supplier’s stock valued at $373,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 68.83% of the company’s stock.
In other Mesa Laboratories news, Director H Stuart Campbell sold 1,000 shares of Mesa Laboratories stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $130.16, for a total transaction of $130,160.00. Following the completion of the sale, the director now directly owns 42,366 shares in the company, valued at $5,514,358.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.70% of the stock is owned by company insiders.
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Shares of Mesa Laboratories, Inc. (NASDAQ MLAB) opened at $130.09 on Thursday. Mesa Laboratories, Inc. has a 12-month low of $113.57 and a 12-month high of $169.80. The firm has a market cap of $492.16, a PE ratio of 34.45 and a beta of 0.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.97 and a current ratio of 2.86.
Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, November 6th. The medical instruments supplier reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). Mesa Laboratories had a net margin of 11.48% and a return on equity of 14.77%. The company had revenue of $22.95 million for the quarter, compared to analyst estimates of $25.50 million. equities research analysts anticipate that Mesa Laboratories, Inc. will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Wednesday, November 29th. Mesa Laboratories’s dividend payout ratio is presently 23.10%.
A number of equities research analysts have weighed in on MLAB shares. Zacks Investment Research cut shares of Mesa Laboratories from a “buy” rating to a “strong sell” rating in a research report on Thursday, August 3rd. TheStreet cut shares of Mesa Laboratories from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Finally, BidaskClub cut shares of Mesa Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.
Mesa Laboratories Profile
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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