Mesa Laboratories, Inc. (NASDAQ:MLAB) Declares Quarterly Dividend of $0.16

Mesa Laboratories, Inc. (NASDAQ:MLAB) announced a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.16 per share by the medical instruments supplier on Monday, December 16th. This represents a $0.64 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Friday, November 29th.

Mesa Laboratories has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Mesa Laboratories to earn $8.29 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 7.7%.

Mesa Laboratories Stock Performance

Shares of Mesa Laboratories stock traded up $1.68 during mid-day trading on Friday, hitting $132.33. 691 shares of the stock were exchanged, compared to its average volume of 42,385. The company has a 50-day simple moving average of $124.37 and a 200 day simple moving average of $111.05. The company has a market capitalization of $715.77 million, a P/E ratio of -2.77 and a beta of 0.85. Mesa Laboratories has a 12 month low of $82.86 and a 12 month high of $141.17. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.37 and a current ratio of 1.94.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.55. The business had revenue of $58.17 million during the quarter, compared to the consensus estimate of $55.90 million. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. Sell-side analysts anticipate that Mesa Laboratories will post 7.91 earnings per share for the current fiscal year.

Insider Activity at Mesa Laboratories

In other news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction 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 the SEC website. 5.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MLAB. Wells Fargo & Company began coverage on shares of Mesa Laboratories in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 target price for the company. Evercore ISI raised their target price on Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday.

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.