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

Mesa Laboratories (NASDAQ:MLAB) had its price objective increased by Evercore ISI from $120.00 to $160.00 in a research note published on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical instruments supplier’s stock.

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

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $133.58 on Tuesday. 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 business’s fifty day moving average price is $124.84 and its two-hundred day moving average price is $111.27. The stock has a market cap of $722.53 million, a PE ratio of -2.83 and a beta of 0.85. Mesa Laboratories has a one year low of $82.86 and a one year high of $141.17.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.55. The business had revenue of $58.17 million for the quarter, compared to analyst estimates of $55.90 million. Mesa Laboratories had a positive return on equity of 18.95% and a negative net margin of 111.89%. On average, analysts forecast that Mesa Laboratories will post 7.91 EPS for the current fiscal year.

Mesa Laboratories Announces Dividend

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 0.48%. Mesa Laboratories’s dividend payout ratio (DPR) is presently -1.36%.

Insider Buying and Selling at Mesa Laboratories

In related news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mesa Laboratories

A number of large investors have recently bought and sold shares of MLAB. Ranger Investment Management L.P. increased its position in Mesa Laboratories by 1.2% during the 4th quarter. Ranger Investment Management L.P. now owns 226,682 shares of the medical instruments supplier’s stock worth $23,749,000 after purchasing an additional 2,689 shares in the last quarter. Boone Capital Management LLC purchased a new position in Mesa Laboratories in the fourth quarter valued at about $6,712,000. Los Angeles Capital Management LLC acquired a new position in shares of Mesa Laboratories during the first quarter worth about $605,000. Allspring Global Investments Holdings LLC boosted its position in shares of Mesa Laboratories by 66.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,044 shares of the medical instruments supplier’s stock worth $553,000 after buying an additional 2,010 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Mesa Laboratories by 0.4% in the first 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 in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.