Mesa Laboratories (NASDAQ:MLAB) Sets New 1-Year High on Earnings Beat

Mesa Laboratories, Inc. (NASDAQ:MLAB)’s share price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $152.75 and last traded at $137.27, with a volume of 68479 shares. The stock had previously closed at $133.93.

The medical instruments supplier reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.66. Mesa Laboratories had a negative net margin of 107.56% and a positive return on equity of 28.52%.

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.64 annualized dividend and a yield of 0.47%. Mesa Laboratories’s dividend payout ratio is presently -1.40%.

Analyst Ratings Changes

Separately, StockNews.com lowered Mesa Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Mesa Laboratories

Hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of Mesa Laboratories during the 2nd quarter worth approximately $183,000. SG Americas Securities LLC acquired a new position in Mesa Laboratories during the third quarter worth $302,000. Creative Planning lifted its holdings in shares of Mesa Laboratories by 100.3% during the third quarter. Creative Planning now owns 5,389 shares of the medical instruments supplier’s stock valued at $700,000 after acquiring an additional 2,698 shares during the period. Berry Wealth Group LP bought a new position in shares of Mesa Laboratories during the third quarter valued at $204,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Mesa Laboratories by 44.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 22,108 shares of the medical instruments supplier’s stock valued at $2,871,000 after purchasing an additional 6,766 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Mesa Laboratories Trading Up 2.5 %

The firm has a market cap of $745.38 million, a P/E ratio of -3.01 and a beta of 0.83. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $133.26 and its two-hundred day moving average price is $125.57.

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.