Mesa Laboratories (MLAB) Stock Rating Lowered by BidaskClub

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Mesa Laboratories (NASDAQ:MLAB) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.

MLAB has been the topic of several other reports. ValuEngine lowered Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. TheStreet raised Mesa Laboratories from a “c” rating to a “b” rating in a research note on Thursday, June 28th. Finally, Zacks Investment Research raised Mesa Laboratories from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a research note on Wednesday, July 11th.

Shares of MLAB opened at $172.40 on Thursday. Mesa Laboratories has a 52-week low of $122.35 and a 52-week high of $224.95. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $714.78 million, a price-to-earnings ratio of 27.90 and a beta of 0.24.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Tuesday, July 31st. The medical instruments supplier reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.27. Mesa Laboratories had a positive return on equity of 15.92% and a negative net margin of 0.25%. The firm had revenue of $25.14 million for the quarter. Equities analysts predict that Mesa Laboratories will post 7.09 earnings per share for the current year.

In other news, Director Michael T. Brooks sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $195.39, for a total transaction of $527,553.00. Following the transaction, the director now directly owns 27,750 shares of the company’s stock, valued at $5,422,072.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Kelly sold 700 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $190.01, for a total value of $133,007.00. Following the transaction, the director now directly owns 3,600 shares in the company, valued at $684,036. The disclosure for this sale can be found here. Insiders have sold 4,400 shares of company stock worth $864,060 over the last ninety days. 15.00% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of Mesa Laboratories by 7.2% during the second quarter. Northern Trust Corp now owns 48,167 shares of the medical instruments supplier’s stock worth $10,167,000 after purchasing an additional 3,222 shares during the period. Bank of New York Mellon Corp raised its position in shares of Mesa Laboratories by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 18,858 shares of the medical instruments supplier’s stock worth $3,980,000 after purchasing an additional 958 shares during the period. Millennium Management LLC acquired a new position in shares of Mesa Laboratories during the second quarter worth approximately $3,888,000. Paloma Partners Management Co acquired a new position in shares of Mesa Laboratories during the second quarter worth approximately $284,000. Finally, Bank of America Corp DE raised its position in shares of Mesa Laboratories by 126.2% during the second quarter. Bank of America Corp DE now owns 3,939 shares of the medical instruments supplier’s stock worth $832,000 after purchasing an additional 2,198 shares during the period. 71.91% of the stock is currently owned by institutional investors.

Mesa Laboratories Company Profile

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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