Mesa Laboratories (NASDAQ:MLAB) Price Target Raised to $94.00 at Wells Fargo & Company

Mesa Laboratories (NASDAQ:MLAB) had its price objective lifted by Wells Fargo & Company from $83.00 to $94.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the medical instruments supplier’s stock.

Several other equities analysts have also commented on MLAB. Weiss Ratings reiterated a “sell (d)” rating on shares of Mesa Laboratories in a research report on Thursday, January 22nd. Zacks Research raised Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Wall Street Zen raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $94.00.

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $91.53 on Wednesday. The company’s fifty day moving average price is $81.63 and its 200-day moving average price is $74.61. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.43 and a quick ratio of 1.44. The firm has a market capitalization of $505.25 million, a price-to-earnings ratio of 143.02 and a beta of 0.89. Mesa Laboratories has a one year low of $55.45 and a one year high of $155.12.

Mesa Laboratories (NASDAQ:MLAB) last announced its earnings results on Tuesday, February 3rd. The medical instruments supplier reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.66. Mesa Laboratories had a net margin of 1.51% and a return on equity of 22.02%. The company had revenue of $65.13 million during the quarter, compared to analyst estimates of $63.23 million. On average, equities research analysts anticipate that Mesa Laboratories will post 8 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Saturday, February 28th will be given a $0.16 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.64 annualized dividend and a yield of 0.7%. Mesa Laboratories’s payout ratio is presently -200.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLAB. Simcoe Capital Management LLC purchased a new stake in Mesa Laboratories in the third quarter worth $12,794,000. Boston Partners boosted its holdings in shares of Mesa Laboratories by 2,009.5% during the 3rd quarter. Boston Partners now owns 114,357 shares of the medical instruments supplier’s stock valued at $7,664,000 after buying an additional 108,936 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Mesa Laboratories by 218.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 123,381 shares of the medical instruments supplier’s stock worth $8,268,000 after buying an additional 84,582 shares during the period. Roubaix Capital LLC bought a new position in shares of Mesa Laboratories in the 3rd quarter worth about $5,137,000. Finally, Millennium Management LLC lifted its position in Mesa Laboratories by 131.9% during the 3rd quarter. Millennium Management LLC now owns 133,817 shares of the medical instruments supplier’s stock valued at $8,967,000 after acquiring an additional 76,107 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.