Sidoti Begins Coverage on Mesa Laboratories (MLAB)

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Sidoti assumed coverage on shares of Mesa Laboratories (NASDAQ:MLAB) in a report issued on Wednesday morning, The Fly reports. The brokerage issued a neutral rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on MLAB. BidaskClub raised Mesa Laboratories from a buy rating to a strong-buy rating in a research note on Thursday, November 15th. Zacks Investment Research raised Mesa Laboratories from a hold rating to a buy rating and set a $257.00 price target for the company in a research note on Friday, February 8th. Finally, TheStreet raised Mesa Laboratories from a c rating to a b- rating in a research note on Friday, February 8th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $257.00.

Shares of MLAB stock opened at $235.90 on Wednesday. The stock has a market capitalization of $912.46 million, a PE ratio of 38.17 and a beta of 0.38. The company has a quick ratio of 1.20, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. Mesa Laboratories has a 1-year low of $131.51 and a 1-year high of $241.83.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Monday, February 4th. The medical instruments supplier reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.01. The company had revenue of $26.68 million during the quarter, compared to analysts’ expectations of $25.80 million. Mesa Laboratories had a return on equity of 23.53% and a net margin of 9.98%. As a group, research analysts predict that Mesa Laboratories will post 5.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a $0.16 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.27%. Mesa Laboratories’s payout ratio is 10.36%.

In related news, Director David M. Kelly sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $229.62, for a total transaction of $459,240.00. Following the sale, the director now owns 3,900 shares in the company, valued at approximately $895,518. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Evan Guillemin sold 1,746 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $232.31, for a total value of $405,613.26. Following the sale, the director now owns 50,214 shares in the company, valued at approximately $11,665,214.34. The disclosure for this sale can be found here. In the last three months, insiders sold 19,158 shares of company stock valued at $4,450,329. Insiders own 15.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in MLAB. Atlanta Capital Management Co. L L C bought a new stake in shares of Mesa Laboratories during the 4th quarter valued at about $26,142,000. Ranger Investment Management L.P. boosted its position in shares of Mesa Laboratories by 75.4% during the 4th quarter. Ranger Investment Management L.P. now owns 157,019 shares of the medical instruments supplier’s stock valued at $32,721,000 after purchasing an additional 67,492 shares in the last quarter. BlackRock Inc. boosted its position in shares of Mesa Laboratories by 10.2% during the 4th quarter. BlackRock Inc. now owns 252,580 shares of the medical instruments supplier’s stock valued at $52,634,000 after purchasing an additional 23,384 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Mesa Laboratories by 38.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 80,814 shares of the medical instruments supplier’s stock valued at $16,841,000 after purchasing an additional 22,305 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Mesa Laboratories by 13.6% during the 3rd quarter. Royce & Associates LP now owns 116,373 shares of the medical instruments supplier’s stock valued at $21,601,000 after purchasing an additional 13,943 shares in the last quarter. Institutional investors own 76.33% of the company’s stock.

About Mesa Laboratories

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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