Mesa Laboratories (NASDAQ:MLAB) PT Lowered to $106.00

Mesa Laboratories (NASDAQ:MLAB) had its price target reduced by Evercore ISI from $120.00 to $106.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Evercore ISI’s price target suggests a potential upside of 17.23% from the company’s current price.

Mesa Laboratories Stock Performance

Mesa Laboratories stock opened at $90.42 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 0.37 and a debt-to-equity ratio of 0.58. The stock has a market cap of $487.36 million, a PE ratio of -1.92 and a beta of 0.86. Mesa Laboratories has a 12-month low of $82.86 and a 12-month high of $145.46. The business’s 50-day moving average price is $104.11 and its two-hundred day moving average price is $102.61.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Wednesday, June 5th. The medical instruments supplier reported $2.25 EPS for the quarter. Mesa Laboratories had a positive return on equity of 10.10% and a negative net margin of 117.61%. The company had revenue of $58.90 million during the quarter. As a group, analysts expect that Mesa Laboratories will post 6.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MLAB. Conestoga Capital Advisors LLC grew its stake in shares of Mesa Laboratories by 0.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 580,744 shares of the medical instruments supplier’s stock valued at $63,725,000 after buying an additional 2,281 shares during the period. Vanguard Group Inc. boosted its holdings in Mesa Laboratories by 0.8% in the first quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier’s stock worth $40,973,000 after acquiring an additional 3,119 shares in the last quarter. Ranger Investment Management L.P. grew its stake in Mesa Laboratories by 1.2% in the fourth quarter. Ranger Investment Management L.P. now owns 226,682 shares of the medical instruments supplier’s stock valued at $23,749,000 after acquiring an additional 2,689 shares during the period. Geneva Capital Management LLC increased its holdings in shares of Mesa Laboratories by 2.5% during the first quarter. Geneva Capital Management LLC now owns 194,330 shares of the medical instruments supplier’s stock valued at $21,324,000 after acquiring an additional 4,801 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Mesa Laboratories by 2.9% during the fourth quarter. Eagle Asset Management Inc. now owns 115,277 shares of the medical instruments supplier’s stock worth $12,078,000 after purchasing an additional 3,298 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

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.