Mesa Laboratories, Inc. (NASDAQ:MLAB – Get Free Report) declared a quarterly dividend on Wednesday, October 2nd, Zacks reports. Investors of record on Friday, November 29th will be given a dividend of 0.16 per share by the medical instruments supplier on Monday, December 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, November 29th.
Mesa Laboratories has a payout ratio of 7.3% indicating that 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 Price Performance
Shares of MLAB traded up $1.40 during trading hours on Friday, reaching $132.05. 1,524 shares of the stock traded hands, compared to its average volume of 42,389. 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 has a 52-week low of $82.86 and a 52-week high of $141.17. The company’s 50-day moving average price is $124.37 and its two-hundred day moving average price is $111.05. The company has a market cap of $714.26 million, a P/E ratio of -2.81 and a beta of 0.85.
Analysts Set New Price Targets
Several analysts have commented on MLAB shares. Evercore ISI boosted their price target on shares of Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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 price target on the stock.
Read Our Latest Stock Analysis on MLAB
Insider Activity
In other news, SVP Brian David Archbold sold 1,499 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.
About Mesa Laboratories
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.
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