Mesa Laboratories (NASDAQ:MLAB) Sets New 1-Year High – What’s Next?

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $147.34 and last traded at $147.34, with a volume of 8178 shares traded. The stock had previously closed at $138.35.

Analyst Upgrades and Downgrades

MLAB has been the subject of a number of research reports. StockNews.com downgraded shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Evercore ISI lifted their price objective on shares of Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st.

Mesa Laboratories Trading Up 3.6 %

The company has a market cap of $778.15 million, a price-to-earnings ratio of -3.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51. The firm’s fifty day moving average price is $121.54 and its 200-day moving average price is $118.72.

Insider Activity

In other news, CEO Gary M. Owens sold 2,518 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total transaction of $286,095.16. Following the completion of the transaction, the chief executive officer now owns 45,888 shares of the company’s stock, valued at approximately $5,213,794.56. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Mesa Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in shares of Mesa Laboratories during the second quarter valued at about $26,000. FMR LLC raised its holdings in Mesa Laboratories by 34.1% during the 3rd quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 100 shares during the period. Quantbot Technologies LP purchased a new position in Mesa Laboratories during the 3rd quarter valued at about $70,000. Berry Wealth Group LP purchased a new position in Mesa Laboratories during the 3rd quarter valued at about $204,000. Finally, Amalgamated Bank grew its stake in Mesa Laboratories by 6.5% during the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock valued at $206,000 after acquiring an additional 97 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.