Mesa Laboratories, Inc. (NASDAQ:MLAB) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Monday.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Mesa Laboratories from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a report on Tuesday, June 13th.
Mesa Laboratories (NASDAQ MLAB) opened at 146.56 on Monday. Mesa Laboratories has a 52 week low of $102.14 and a 52 week high of $169.80. The stock has a market cap of $547.69 million, a PE ratio of 50.36 and a beta of 0.46. The company’s 50-day moving average is $144.28 and its 200 day moving average is $135.20.
Mesa Laboratories (NASDAQ:MLAB) last released its earnings results on Monday, July 31st. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The firm had revenue of $22.67 million during the quarter, compared to analysts’ expectations of $22.90 million. Mesa Laboratories had a return on equity of 16.89% and a net margin of 11.31%. On average, analysts expect that Mesa Laboratories will post $3.06 earnings per share for the current fiscal year.
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In other Mesa Laboratories news, Director David M. Kelly sold 1,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $142.00, for a total transaction of $142,000.00. Following the completion of the sale, the director now directly owns 4,750 shares of the company’s stock, valued at approximately $674,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert V. Dwyer sold 11,150 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $139.46, for a total transaction of $1,554,979.00. Following the sale, the director now directly owns 80,671 shares of the company’s stock, valued at $11,250,377.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,150 shares of company stock valued at $2,292,899. Insiders own 17.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. raised its stake in shares of Mesa Laboratories by 5.6% in the second quarter. Eqis Capital Management Inc. now owns 5,188 shares of the medical instruments supplier’s stock worth $744,000 after buying an additional 273 shares during the period. Thomson Horstmann & Bryant Inc. raised its stake in shares of Mesa Laboratories by 75.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 72,362 shares of the medical instruments supplier’s stock worth $10,370,000 after buying an additional 31,107 shares during the period. Pembroke Management LTD bought a new stake in shares of Mesa Laboratories during the second quarter worth about $8,283,000. Bessemer Group Inc. raised its stake in shares of Mesa Laboratories by 716.7% in the second quarter. Bessemer Group Inc. now owns 4,900 shares of the medical instruments supplier’s stock worth $702,000 after buying an additional 4,300 shares during the period. Finally, Spark Investment Management LLC bought a new stake in shares of Mesa Laboratories during the second quarter worth about $300,000. 66.90% of the stock is owned by institutional investors and hedge funds.
About Mesa Laboratories
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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