Victory Capital Management Inc. Sells 594 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

Victory Capital Management Inc. cut its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,358 shares of the medical instruments supplier’s stock after selling 594 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of Mesa Laboratories worth $638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kings Path Partners LLC bought a new position in shares of Mesa Laboratories during the second quarter valued at $588,000. Louisiana State Employees Retirement System increased its holdings 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 in the last quarter. Raymond James & Associates raised its position in Mesa Laboratories by 8.4% in the 2nd quarter. Raymond James & Associates now owns 80,739 shares of the medical instruments supplier’s stock worth $7,006,000 after buying an additional 6,283 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Mesa Laboratories during the 2nd quarter valued at about $319,000. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Mesa Laboratories by 89.3% during the 1st quarter. Motley Fool Asset Management LLC now owns 16,488 shares of the medical instruments supplier’s stock valued at $1,809,000 after acquiring an additional 7,779 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by corporate insiders.

Mesa Laboratories Stock Performance

Shares of MLAB opened at $128.57 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37. Mesa Laboratories, Inc. has a one year low of $82.86 and a one year high of $141.17. The firm has a market capitalization of $695.44 million, a P/E ratio of -2.73 and a beta of 0.85. The business has a fifty day moving average of $120.90 and a 200 day moving average of $109.70.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $2.29 EPS for the quarter, topping the consensus estimate of $1.74 by $0.55. Mesa Laboratories had a positive return on equity of 18.95% and a negative net margin of 111.89%. The company had revenue of $58.17 million during the quarter, compared to analyst estimates of $55.90 million. As a group, sell-side analysts anticipate 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 issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, August 30th. Mesa Laboratories’s payout ratio is currently -1.36%.

Wall Street Analyst Weigh In

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

Mesa Laboratories 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.