Raymond James & Associates Sells 3,884 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

Raymond James & Associates decreased its position in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,855 shares of the medical instruments supplier’s stock after selling 3,884 shares during the period. Raymond James & Associates owned approximately 1.42% of Mesa Laboratories worth $9,980,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MLAB. Canada Pension Plan Investment Board bought a new stake in shares of Mesa Laboratories in the 2nd quarter worth $26,000. EntryPoint Capital LLC boosted its position in shares of Mesa Laboratories by 35.2% during the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 193 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Mesa Laboratories in the 2nd quarter worth about $183,000. Louisiana State Employees Retirement System raised its position in Mesa Laboratories by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock worth $226,000 after buying an additional 100 shares during the last quarter. Finally, Choreo LLC purchased a new position in Mesa Laboratories in the 2nd quarter worth about $265,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mesa Laboratories

In other Mesa Laboratories 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 transaction of $187,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Brian David Archbold sold 1,499 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the transaction, the chief executive officer now directly owns 45,888 shares in the company, valued at $5,213,794.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

Analyst Ratings Changes

MLAB has been the subject of several research analyst reports. Wells Fargo & Company assumed coverage on Mesa Laboratories in a report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price objective for the company. Evercore ISI boosted their price target on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, StockNews.com raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday.

Mesa Laboratories Stock Performance

NASDAQ:MLAB opened at $112.68 on Wednesday. The stock has a 50-day moving average price of $127.37 and a 200 day moving average price of $113.81. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 1.38. Mesa Laboratories, Inc. has a 12-month low of $82.86 and a 12-month high of $141.17. The stock has a market capitalization of $609.60 million, a P/E ratio of -2.43 and a beta of 0.85.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.55. The firm had revenue of $58.17 million during the quarter, compared to analyst estimates of $55.90 million. Mesa Laboratories had a positive return on equity of 18.95% and a negative net margin of 111.89%. Equities research analysts forecast that Mesa Laboratories, Inc. will post 7.91 EPS for the current fiscal year.

Mesa Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s dividend payout ratio is -1.38%.

About Mesa Laboratories

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.