Mesa Laboratories (NASDAQ:MLAB) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $85.01 and traded as high as $109.49. Mesa Laboratories shares last traded at $106.12, with a volume of 121,638 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Mesa Laboratories in a research note on Monday. Wells Fargo & Company upped their target price on shares of Mesa Laboratories from $83.00 to $94.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Zacks Research upgraded shares of Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Mesa Laboratories currently has a consensus rating of “Reduce” and a consensus target price of $94.00.

Mesa Laboratories Stock Down 1.4%

The firm’s 50 day simple moving average is $91.53 and its 200 day simple moving average is $85.01. 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 company has a market cap of $577.67 million, a price-to-earnings ratio of 163.52 and a beta of 0.94.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Tuesday, February 3rd. The medical instruments supplier reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.66. The business had revenue of $65.13 million during the quarter, compared to analysts’ expectations of $63.23 million. Mesa Laboratories had a net margin of 1.51% and a return on equity of 22.02%. Sell-side analysts anticipate that Mesa Laboratories, Inc. will post 7.26 EPS for the current fiscal year.

Mesa Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.16 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.6%. Mesa Laboratories’s dividend payout ratio (DPR) is 100.00%.

Insider Activity

In other Mesa Laboratories news, Director Mark Christopher Capone bought 1,301 shares of Mesa Laboratories stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $76.35 per share, for a total transaction of $99,331.35. Following the completion of the acquisition, the director owned 3,429 shares of the company’s stock, valued at approximately $261,804.15. This represents a 61.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Tony Tripeny purchased 1,315 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $76.00 per share, for a total transaction of $99,940.00. Following the acquisition, the director directly owned 5,398 shares of the company’s stock, valued at $410,248. This represents a 32.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 6,116 shares of company stock worth $452,076 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Mesa Laboratories by 5,366.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 322 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Mesa Laboratories in the 4th quarter worth $27,000. Farther Finance Advisors LLC grew its holdings in shares of Mesa Laboratories by 17,733.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 535 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 532 shares during the last quarter. CWM LLC grew its holdings in shares of Mesa Laboratories by 48.9% in the 3rd quarter. CWM LLC now owns 597 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 196 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Mesa Laboratories in the 4th quarter worth $55,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.