Mesa Laboratories (NASDAQ:MLAB) Upgraded by Zacks Investment Research to “Hold”


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Mesa Laboratories (NASDAQ:MLAB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

Mesa Laboratories stock opened at $252.27 on Wednesday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -360.39 and a beta of 0.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 14.34 and a quick ratio of 13.74. Mesa Laboratories has a fifty-two week low of $207.54 and a fifty-two week high of $307.97. The firm has a fifty day moving average price of $257.42 and a two-hundred day moving average price of $272.92.

Mesa Laboratories (NASDAQ:MLAB) last released its earnings results on Wednesday, February 3rd. The medical instruments supplier reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.51). The firm had revenue of $34.17 million for the quarter, compared to analyst estimates of $32.30 million. Mesa Laboratories had a positive return on equity of 6.39% and a negative net margin of 2.04%. As a group, sell-side analysts expect that Mesa Laboratories will post 5.84 earnings per share for the current year.

In other news, Director John James Sullivan sold 500 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $250.76, for a total transaction of $125,380.00. Following the completion of the transaction, the director now owns 57,458 shares of the company’s stock, valued at $14,408,168.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Sakys sold 2,500 shares of the company’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $263.84, for a total transaction of $659,600.00. Following the transaction, the chief financial officer now directly owns 4,850 shares of the company’s stock, valued at approximately $1,279,624. The disclosure for this sale can be found here. Insiders have sold 8,193 shares of company stock valued at $2,216,028 in the last ninety days. 6.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MLAB. Veriti Management LLC bought a new stake in Mesa Laboratories in the fourth quarter valued at about $44,000. Captrust Financial Advisors increased its stake in Mesa Laboratories by 27.6% in the third quarter. Captrust Financial Advisors now owns 434 shares of the medical instruments supplier’s stock valued at $112,000 after acquiring an additional 94 shares during the period. Nisa Investment Advisors LLC increased its stake in Mesa Laboratories by 600.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 525 shares of the medical instruments supplier’s stock valued at $150,000 after acquiring an additional 450 shares during the period. Cresset Asset Management LLC bought a new stake in Mesa Laboratories in the fourth quarter valued at about $215,000. Finally, Amalgamated Bank bought a new stake in Mesa Laboratories in the fourth quarter valued at about $224,000. 93.54% of the stock is owned by institutional investors and hedge funds.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products in the United States, Canada, Europe, and Japan. The company's Sterilization and Disinfection Control segment manufactures and markets biological indicators comprising spore strips, self-contained products, and culture media, as well as process challenge devices; and offers testing services.

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