Mesa Laboratories (NASDAQ:MLAB) Reaches New 1-Year High – Here’s Why

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $113.09 and last traded at $113.51, with a volume of 24604 shares traded. The stock had previously closed at $108.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Mesa Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mesa Laboratories currently has a consensus rating of “Reduce” and an average price target of $94.00.

Mesa Laboratories Trading Down 1.7%

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.72 and a quick ratio of 1.29. The stock has a market capitalization of $592.39 million, a PE ratio of 89.35 and a beta of 0.94. The stock’s 50 day simple moving average is $100.73 and its two-hundred day simple moving average is $89.79.

Mesa Laboratories (NASDAQ:MLAB) last released its earnings results on Wednesday, May 27th. The medical instruments supplier reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.25). The company had revenue of $63.72 million during the quarter, compared to analysts’ expectations of $65.21 million. Mesa Laboratories had a net margin of 2.69% and a return on equity of 20.96%. During the same quarter in the previous year, the firm earned ($1.31) earnings per share. On average, sell-side analysts expect that Mesa Laboratories, Inc. will post 8.74 EPS for the current year.

Mesa Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Mesa Laboratories’s dividend payout ratio is presently 53.33%.

Institutional Trading of Mesa Laboratories

A number of institutional investors have recently modified their holdings of MLAB. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Mesa Laboratories by 5,366.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 322 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mesa Laboratories during the 4th quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Mesa Laboratories during the 4th quarter valued at approximately $55,000. BNP Paribas Financial Markets lifted its stake in shares of Mesa Laboratories by 30.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 243 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Mesa Laboratories by 432.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier’s stock valued at $79,000 after buying an additional 684 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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.