Mesa Laboratories, Inc. (NASDAQ:MLAB) Sees Large Drop in Short Interest

Mesa Laboratories, Inc. (NASDAQ:MLAB) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 123,000 shares, a decline of 18.1% from the October 31st total of 150,200 shares. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is presently 3.5 days.

Mesa Laboratories Stock Performance

Shares of NASDAQ MLAB traded down $1.21 during mid-day trading on Friday, reaching $117.14. 19,220 shares of the company’s stock were exchanged, compared to its average volume of 41,397. Mesa Laboratories has a 52 week low of $83.68 and a 52 week high of $141.17. The firm has a market capitalization of $636.19 million, a price-to-earnings ratio of -2.57 and a beta of 0.87. The firm has a 50-day moving average price of $120.41 and a two-hundred day moving average price of $114.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51.

Mesa Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 0.55%. Mesa Laboratories’s dividend payout ratio (DPR) is -1.40%.

Insiders Place Their Bets

In related news, SVP Brian David Archbold sold 1,499 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $125.00, for a total value of $187,375.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total transaction of $286,095.16. Following the sale, the chief executive officer now directly owns 45,888 shares in the company, valued at $5,213,794.56. This trade represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Mesa Laboratories

A number of institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new position in shares of Mesa Laboratories in the second quarter valued at about $26,000. FMR LLC grew its holdings in Mesa Laboratories by 34.1% during the 3rd quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. Quantbot Technologies LP bought a new stake in Mesa Laboratories in the 3rd quarter valued at $70,000. Sanctuary Advisors LLC bought a new position in Mesa Laboratories during the second quarter valued at approximately $183,000. Finally, Berry Wealth Group LP purchased a new position in Mesa Laboratories during the 3rd quarter valued at approximately $204,000. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MLAB shares. Wells Fargo & Company assumed coverage on shares of Mesa Laboratories in a research report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price objective on the stock. StockNews.com downgraded Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI raised their target price on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st.

About Mesa Laboratories

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.