Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. reduced its stake in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 11.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,273 shares of the medical instruments supplier’s stock after selling 1,098 shares during the quarter. Select Equity Group L.P. owned 0.15% of Mesa Laboratories worth $718,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Mesa Laboratories during the second quarter worth $26,000. EntryPoint Capital LLC boosted its holdings in Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after acquiring an additional 193 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Mesa Laboratories by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock valued at $226,000 after acquiring an additional 100 shares during the period. Choreo LLC acquired a new position in Mesa Laboratories in the 2nd quarter valued at about $265,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Mesa Laboratories during the second quarter worth about $311,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLAB. Wells Fargo & Company began coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price objective for the company. Evercore ISI increased their price target on Mesa Laboratories from $106.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th.

Insider Buying and Selling

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.20% of the stock is owned by company insiders.

Mesa Laboratories Trading Up 0.1 %

Shares of NASDAQ:MLAB opened at $127.72 on Friday. Mesa Laboratories, Inc. has a 52 week low of $82.86 and a 52 week high of $141.17. The company’s 50 day moving average is $122.73 and its two-hundred day moving average is $110.28. The company has a market cap of $690.84 million, a PE ratio of -2.71 and a beta of 0.85. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 1.38.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 EPS for the quarter, beating 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 firm had revenue of $58.17 million for the quarter, compared to analyst estimates of $55.90 million. Equities analysts predict that Mesa Laboratories, Inc. will post 7.91 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, August 30th. Mesa Laboratories’s payout ratio is -1.36%.

Mesa Laboratories Company 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.