Mesa Laboratories (NASDAQ:MLAB) PT Raised to $160.00

Mesa Laboratories (NASDAQ:MLAB) had its price objective raised by research analysts at Evercore ISI from $120.00 to $160.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Evercore ISI’s target price would indicate a potential upside of 20.92% from the company’s previous close.

Separately, Wells Fargo & Company initiated coverage on Mesa Laboratories in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price objective for the company.

Mesa Laboratories Stock Performance

NASDAQ:MLAB opened at $132.32 on Tuesday. The firm’s fifty day simple moving average is $123.45 and its 200-day simple moving average is $110.76. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 1.38. The stock has a market cap of $715.72 million, a PE ratio of -2.81 and a beta of 0.85. Mesa Laboratories has a fifty-two week low of $82.86 and a fifty-two week high of $141.17.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $58.17 million for the quarter, compared to analyst estimates of $55.90 million. Analysts expect that Mesa Laboratories will post 7.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mesa Laboratories

Several large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Mesa Laboratories in the 2nd quarter valued at $183,000. Meros Investment Management LP purchased a new stake in Mesa Laboratories during the 2nd quarter worth $2,456,000. Mackenzie Financial Corp acquired a new stake in Mesa Laboratories during the 2nd quarter valued at approximately $596,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Mesa Laboratories during the 2nd quarter valued at approximately $311,000. Finally, Public Sector Pension Investment Board grew its position in shares of Mesa Laboratories by 5.9% during the second 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 in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

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.