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

Mesa Laboratories, Inc. (NASDAQ:MLAB) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 220,900 shares, a growth of 16.6% from the August 15th total of 189,400 shares. Based on an average daily trading volume, of 41,500 shares, the days-to-cover ratio is presently 5.3 days.

Mesa Laboratories Trading Down 0.1 %

Shares of Mesa Laboratories stock traded down $0.14 during trading on Tuesday, hitting $122.80. 49,307 shares of the company were exchanged, compared to its average volume of 43,510. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37. The firm has a market capitalization of $664.23 million, a P/E ratio of -2.61 and a beta of 0.85. The firm’s fifty day moving average price is $119.33 and its 200 day moving average price is $109.37. Mesa Laboratories has a 1-year low of $82.86 and a 1-year high of $141.17.

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

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, August 30th. Mesa Laboratories’s dividend payout ratio is currently -1.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MLAB shares. Wells Fargo & Company began coverage on shares of Mesa Laboratories in a research note on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price target for the company. Evercore ISI upped their target price on shares of Mesa Laboratories from $106.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th.

Insider Activity at Mesa Laboratories

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Mesa Laboratories

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in Mesa Laboratories in the second quarter valued at about $183,000. Meros Investment Management LP acquired a new position in shares of Mesa Laboratories in the 2nd quarter valued at approximately $2,456,000. Mackenzie Financial Corp bought a new stake in Mesa Laboratories during the 2nd quarter worth approximately $596,000. Deerfield Management Company L.P. Series C bought a new stake in Mesa Laboratories during the 2nd quarter worth approximately $311,000. Finally, Public Sector Pension Investment Board raised its holdings in Mesa Laboratories by 5.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,261 shares of the medical instruments supplier’s stock worth $977,000 after buying an additional 630 shares during the period. Institutional investors and hedge funds own 90.60% 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.