JPMorgan Chase & Co. Has $1.09 Million Stake in Mesa Laboratories, Inc. (NASDAQ:MLAB)

JPMorgan Chase & Co. raised its stake in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 29.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,406 shares of the medical instruments supplier’s stock after purchasing an additional 1,906 shares during the quarter. JPMorgan Chase & Co. owned 0.15% of Mesa Laboratories worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Amalgamated Bank grew its holdings in Mesa Laboratories by 6.5% during the third quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 97 shares in the last quarter. FMR LLC boosted 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 acquiring an additional 100 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Mesa Laboratories by 1.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,461 shares of the medical instruments supplier’s stock worth $1,488,000 after acquiring an additional 200 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Mesa Laboratories in the second quarter valued at about $26,000. Finally, Quantbot Technologies LP bought a new position in shares of Mesa Laboratories during the third quarter valued at about $70,000. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other Mesa Laboratories news, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction dated 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 in the company, valued at $5,213,794.56. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $140.47 on Friday. The company has a market capitalization of $762.75 million, a P/E ratio of -3.08 and a beta of 0.82. The company’s 50-day moving average is $128.76 and its 200 day moving average is $123.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. Mesa Laboratories, Inc. has a fifty-two week low of $83.68 and a fifty-two week high of $149.50.

Mesa Laboratories (NASDAQ:MLAB) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Mesa Laboratories had a negative net margin of 107.56% and a positive return on equity of 28.52%. The company had revenue of $57.83 million during the quarter, compared to analysts’ expectations of $58.60 million. On average, equities research analysts forecast that Mesa Laboratories, Inc. will post 7.39 earnings per share for the current year.

Mesa Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, February 28th. Mesa Laboratories’s dividend payout ratio (DPR) is -1.40%.

Mesa Laboratories 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.