BidaskClub Lowers Mesa Laboratories (MLAB) to Sell

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Mesa Laboratories (NASDAQ:MLAB) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other brokerages also recently issued reports on MLAB. Zacks Investment Research upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research note on Wednesday, July 11th. TheStreet upgraded shares of Mesa Laboratories from a “c” rating to a “b” rating in a research note on Thursday, June 28th. Finally, ValuEngine downgraded shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd.

Mesa Laboratories stock opened at $195.05 on Wednesday. Mesa Laboratories has a one year low of $122.35 and a one year high of $224.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.10 and a quick ratio of 1.55. The stock has a market cap of $752.17 million, a PE ratio of 46.54 and a beta of 0.23.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Tuesday, July 31st. The medical instruments supplier reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.27. Mesa Laboratories had a negative net margin of 0.25% and a positive return on equity of 15.92%. The company had revenue of $25.14 million during the quarter. sell-side analysts expect that Mesa Laboratories will post 7.09 earnings per share for the current fiscal year.

In related news, Director H Stuart Campbell sold 989 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $191.17, for a total value of $189,067.13. Following the completion of the sale, the director now directly owns 41,527 shares in the company, valued at approximately $7,938,716.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John James Sullivan sold 12,000 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $197.02, for a total transaction of $2,364,240.00. Following the completion of the sale, the director now owns 74,498 shares of the company’s stock, valued at $14,677,595.96. The disclosure for this sale can be found here. Insiders sold a total of 18,989 shares of company stock valued at $3,806,957 over the last quarter. 15.70% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Conestoga Capital Advisors LLC lifted its stake in Mesa Laboratories by 4.9% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 428,722 shares of the medical instruments supplier’s stock valued at $90,495,000 after purchasing an additional 19,845 shares during the last quarter. BlackRock Inc. lifted its stake in Mesa Laboratories by 11.3% in the 2nd quarter. BlackRock Inc. now owns 210,585 shares of the medical instruments supplier’s stock valued at $44,449,000 after purchasing an additional 21,299 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Mesa Laboratories by 45.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 126,514 shares of the medical instruments supplier’s stock valued at $18,779,000 after purchasing an additional 39,372 shares during the last quarter. Royce & Associates LP lifted its stake in Mesa Laboratories by 18.2% in the 2nd quarter. Royce & Associates LP now owns 102,430 shares of the medical instruments supplier’s stock valued at $21,621,000 after purchasing an additional 15,778 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. lifted its stake in Mesa Laboratories by 0.4% in the 1st quarter. Thomson Horstmann & Bryant Inc. now owns 88,742 shares of the medical instruments supplier’s stock valued at $13,172,000 after purchasing an additional 363 shares during the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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