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

Mesa Laboratories, Inc. (NASDAQ:MLAB) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

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

Mesa Laboratories Trading Up 1.1 %

The company’s 50 day simple moving average is $104.47 and its two-hundred day simple moving average is $99.57. The company has a market capitalization of $542.99 million, a price-to-earnings ratio of 592.62 and a beta of 0.83. The company has a quick ratio of 1.86, a current ratio of 2.68 and a debt-to-equity ratio of 0.58.

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

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.16 dividend. 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 (DPR) is 376.49%.

Institutional Investors Weigh In On Mesa Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of MLAB. Morgan Stanley increased its stake 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 acquiring an additional 234,712 shares during the period. 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 grew its holdings in Mesa Laboratories by 9.1% during the fourth quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier’s stock worth $60,606,000 after acquiring an additional 48,253 shares during the period. Comerica Bank acquired a new stake in Mesa Laboratories during the third quarter worth about $4,849,000. Finally, Glenmede Trust Co. NA raised its position in Mesa Laboratories by 87.4% during the third quarter. Glenmede Trust Co. NA now owns 94,337 shares of the medical instruments supplier’s stock valued at $9,912,000 after acquiring an additional 44,002 shares in the last quarter. Institutional investors and hedge funds 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.