Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,094 shares of the medical instruments supplier’s stock after selling 258 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Mesa Laboratories worth $324,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MLAB. Boone Capital Management LLC purchased a new position in shares of Mesa Laboratories during the 4th quarter worth approximately $6,712,000. Conestoga Capital Advisors LLC lifted its holdings in Mesa Laboratories by 9.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier’s stock valued at $60,606,000 after acquiring an additional 48,253 shares during the period. Comerica Bank acquired a new stake in Mesa Laboratories in the third quarter valued at $4,849,000. Glenmede Trust Co. NA boosted its position in shares of Mesa Laboratories by 87.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 94,337 shares of the medical instruments supplier’s stock worth $9,912,000 after purchasing an additional 44,002 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its stake in shares of Mesa Laboratories by 42.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 109,496 shares of the medical instruments supplier’s stock worth $11,505,000 after purchasing an additional 32,412 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Mesa Laboratories Stock Performance

MLAB opened at $86.77 on Friday. Mesa Laboratories, Inc. has a 1-year low of $82.86 and a 1-year high of $145.46. The stock has a market cap of $467.69 million, a P/E ratio of -1.84 and a beta of 0.85. The stock’s 50 day simple moving average is $105.04 and its 200 day simple moving average is $103.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.37 and a quick ratio of 1.86.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Wednesday, June 5th. The medical instruments supplier reported $2.25 earnings per share for the quarter. Mesa Laboratories had a positive return on equity of 10.10% and a negative net margin of 117.61%. The company had revenue of $58.90 million for the quarter. As a group, equities analysts anticipate that Mesa Laboratories, Inc. will post 6.91 EPS for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 0.74%. Mesa Laboratories’s dividend payout ratio (DPR) is currently -1.36%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised their price objective on shares of Mesa Laboratories from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th.

About Mesa Laboratories

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.