Royce & Associates LP Sells 99,048 Shares of Mesa Laboratories, Inc. $MLAB

Royce & Associates LP lowered its stake in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 40.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,558 shares of the medical instruments supplier’s stock after selling 99,048 shares during the period. Royce & Associates LP owned approximately 2.70% of Mesa Laboratories worth $9,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diamond Hill Capital Management Inc. increased its holdings in Mesa Laboratories by 218.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 123,381 shares of the medical instruments supplier’s stock valued at $8,268,000 after buying an additional 84,582 shares during the period. Herald Investment Management Ltd boosted its position in shares of Mesa Laboratories by 300.0% during the 3rd quarter. Herald Investment Management Ltd now owns 50,000 shares of the medical instruments supplier’s stock worth $3,340,000 after acquiring an additional 37,500 shares in the last quarter. Select Equity Group L.P. boosted its position in shares of Mesa Laboratories by 38.3% during the 2nd quarter. Select Equity Group L.P. now owns 102,198 shares of the medical instruments supplier’s stock worth $9,629,000 after acquiring an additional 28,301 shares in the last quarter. Gabelli Funds LLC bought a new position in Mesa Laboratories in the second quarter valued at approximately $2,370,000. Finally, Qube Research & Technologies Ltd raised its position in Mesa Laboratories by 436.6% during the second quarter. Qube Research & Technologies Ltd now owns 19,898 shares of the medical instruments supplier’s stock valued at $1,875,000 after purchasing an additional 16,190 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Price Performance

Shares of MLAB opened at $91.36 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 0.86. The stock has a market cap of $504.31 million, a PE ratio of 142.75 and a beta of 0.85. Mesa Laboratories, Inc. has a 12-month low of $55.45 and a 12-month high of $142.18. The business has a 50-day simple moving average of $86.80 and a two-hundred day simple moving average of $77.63.

Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings results on Tuesday, February 3rd. The medical instruments supplier reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.66. Mesa Laboratories had a return on equity of 22.02% and a net margin of 1.51%.The company had revenue of $65.13 million for the quarter, compared to analysts’ expectations of $63.23 million. Analysts anticipate that Mesa Laboratories, Inc. will post 8 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Saturday, February 28th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 27th. Mesa Laboratories’s dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MLAB shares. Zacks Research upgraded Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mesa Laboratories in a research note on Thursday, January 22nd. Wall Street Zen upgraded Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Wells Fargo & Company increased their target price on shares of Mesa Laboratories from $83.00 to $94.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $94.00.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.