John James Sullivan Sells 7,093 Shares of Mesa Laboratories (NASDAQ:MLAB) Stock

Mesa Laboratories, Inc. (NASDAQ:MLAB) Director John James Sullivan sold 7,093 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $112.80, for a total value of $800,090.40. Following the sale, the director owned 17,834 shares in the company, valued at approximately $2,011,675.20. This trade represents a 28.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mesa Laboratories Stock Performance

Mesa Laboratories stock opened at $107.94 on Wednesday. The business has a 50 day moving average of $100.60 and a 200-day moving average of $96.46. Mesa Laboratories, Inc. has a 1 year low of $58.83 and a 1 year high of $115.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32. The company has a market capitalization of $604.46 million, a P/E ratio of 128.50 and a beta of 0.92.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 EPS for the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%. The business had revenue of $60.14 million for the quarter.

Mesa Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 0.6%. Mesa Laboratories’s payout ratio is currently 76.19%.

Institutional Investors Weigh In On Mesa Laboratories

A number of institutional investors have recently modified their holdings of the company. Ranger Investment Management L.P. bought a new stake in shares of Mesa Laboratories during the 2nd quarter valued at about $17,321,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mesa Laboratories during the second quarter worth approximately $15,507,000. Boston Partners increased its holdings in Mesa Laboratories by 2,009.5% in the third quarter. Boston Partners now owns 114,357 shares of the medical instruments supplier’s stock worth $7,664,000 after purchasing an additional 108,936 shares in the last quarter. Millennium Management LLC increased its holdings in Mesa Laboratories by 131.9% in the third quarter. Millennium Management LLC now owns 133,817 shares of the medical instruments supplier’s stock worth $8,967,000 after purchasing an additional 76,107 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Mesa Laboratories by 125.8% in the second quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock valued at $11,515,000 after buying an additional 64,435 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on MLAB. Wells Fargo & Company lifted their target price on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Wall Street Zen cut Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings raised Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $110.00.

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.