Mesa Laboratories (NASDAQ:MLAB) Hits New 52-Week High After Better-Than-Expected Earnings

Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $152.75 and last traded at $137.27, with a volume of 68479 shares changing hands. The stock had previously closed at $133.93.

The medical instruments supplier reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.66. Mesa Laboratories had a positive return on equity of 28.52% and a negative net margin of 107.56%.

Mesa Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.46%. Mesa Laboratories’s dividend payout ratio is currently -1.40%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Mesa Laboratories by 34.1% during the third quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Quantbot Technologies LP bought a new stake in Mesa Laboratories during the 3rd quarter valued at approximately $70,000. Sanctuary Advisors LLC bought a new stake in Mesa Laboratories during the 2nd quarter valued at approximately $183,000. Berry Wealth Group LP bought a new position in Mesa Laboratories in the 3rd quarter worth approximately $204,000. Finally, Amalgamated Bank increased its position in Mesa Laboratories by 6.5% in the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 97 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Mesa Laboratories Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51. The company has a market capitalization of $754.23 million, a price-to-earnings ratio of -3.05 and a beta of 0.83. The business has a fifty day moving average price of $133.67 and a 200 day moving average price of $125.66.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.