Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,444 shares of the medical instruments supplier’s stock after selling 3,192 shares during the quarter. Rhumbline Advisers owned 0.25% of Mesa Laboratories worth $1,167,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Mesa Laboratories by 515.6% in the fourth quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Mesa Laboratories by 35.2% during the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after purchasing an additional 193 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Mesa Laboratories by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock worth $226,000 after purchasing an additional 100 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Mesa Laboratories by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier’s stock worth $316,000 after purchasing an additional 175 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Mesa Laboratories during the second quarter worth approximately $319,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity at Mesa Laboratories

In related news, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories stock in a transaction on Friday, September 13th. The shares were sold at an average price of $125.00, for a total value of $187,375.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by insiders.

Mesa Laboratories Stock Performance

Shares of MLAB opened at $128.57 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 1.38. The firm has a market cap of $695.44 million, a PE ratio of -2.73 and a beta of 0.85. The company’s 50 day simple moving average is $120.90 and its 200-day simple moving average is $109.70. Mesa Laboratories, Inc. has a 12-month low of $82.86 and a 12-month high of $141.17.

Mesa Laboratories (NASDAQ:MLAB) last announced its earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.55. The business had revenue of $58.17 million for the quarter, compared to analyst estimates of $55.90 million. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. As a group, equities analysts predict that Mesa Laboratories, Inc. will post 7.91 EPS for the current year.

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.50%. Mesa Laboratories’s dividend payout ratio (DPR) is -1.36%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Mesa Laboratories from $106.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price objective on the stock.

Mesa Laboratories Company Profile

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.