Zacks Investment Research cut shares of Mesa Laboratories (NASDAQ:MLAB) from a hold rating to a strong sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

A number of other brokerages also recently commented on MLAB. Evercore ISI assumed coverage on shares of Mesa Laboratories in a research note on Monday, August 26th. They set an outperform rating and a $250.00 target price for the company. ValuEngine upgraded shares of Mesa Laboratories from a sell rating to a hold rating in a research note on Friday, November 1st. BidaskClub upgraded shares of Mesa Laboratories from a sell rating to a hold rating in a research note on Friday, October 25th. Finally, TheStreet upgraded shares of Mesa Laboratories from a c+ rating to a b rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $247.00.

NASDAQ:MLAB opened at $237.59 on Wednesday. The company has a fifty day simple moving average of $228.54 and a two-hundred day simple moving average of $231.25. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 44.24 and a beta of 0.18. 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 52 week low of $181.21 and a 52 week high of $268.47.

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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.27%. Mesa Laboratories’s payout ratio is currently 11.92%.

Several hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. acquired a new position in shares of Mesa Laboratories during the third quarter worth $218,000. Mason Street Advisors LLC lifted its position in Mesa Laboratories by 15.1% in the third quarter. Mason Street Advisors LLC now owns 1,360 shares of the medical instruments supplier’s stock valued at $323,000 after acquiring an additional 178 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Mesa Laboratories in the third quarter valued at $2,468,000. Russell Investments Group Ltd. purchased a new stake in Mesa Laboratories in the third quarter valued at $8,405,000. Finally, 6 Meridian purchased a new stake in Mesa Laboratories in the third quarter valued at $827,000. Hedge funds and other institutional investors own 81.12% of the company’s stock.

Mesa Laboratories Company Profile

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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