Mesa Laboratories (NASDAQ:MLAB) Price Target Raised to $160.00 at Evercore ISI

Mesa Laboratories (NASDAQ:MLAB) had its price objective hoisted by research analysts at Evercore ISI from $120.00 to $160.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Evercore ISI’s target price points to a potential upside of 25.03% from the company’s current price.

Separately, Wells Fargo & Company began coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price target for the company.

Mesa Laboratories Stock Performance

Mesa Laboratories stock traded down $1.89 during mid-day trading on Tuesday, reaching $127.97. The company’s stock had a trading volume of 12,396 shares, compared to its average volume of 42,703. Mesa Laboratories has a 12-month low of $82.86 and a 12-month high of $141.17. The company has a market capitalization of $692.19 million, a P/E ratio of -2.69 and a beta of 0.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.37 and a current ratio of 1.94. The firm’s fifty day moving average price is $123.11 and its two-hundred day moving average price is $110.55.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 EPS for the quarter, beating 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 firm had revenue of $58.17 million during the quarter, compared to the consensus estimate of $55.90 million. Sell-side analysts predict that Mesa Laboratories will post 7.91 EPS for the current fiscal year.

Insider Transactions at Mesa Laboratories

In other news, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories stock in a transaction on Friday, September 13th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Mesa Laboratories

A number of hedge funds have recently made changes to their positions in MLAB. Boone Capital Management LLC bought a new stake in shares of Mesa Laboratories during the 4th quarter worth $6,712,000. Motley Fool Asset Management LLC raised its position in Mesa Laboratories by 643.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 64,776 shares of the medical instruments supplier’s stock worth $7,108,000 after purchasing an additional 56,067 shares during the period. Meros Investment Management LP purchased a new position in Mesa Laboratories in the 2nd quarter worth $2,456,000. Keeley Teton Advisors LLC purchased a new position in Mesa Laboratories in the 1st quarter worth $2,606,000. Finally, Dimensional Fund Advisors LP raised its position in Mesa Laboratories by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 131,891 shares of the medical instruments supplier’s stock worth $11,444,000 after purchasing an additional 8,722 shares during the period. 90.60% of the stock is owned by institutional investors.

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.