Mesa Laboratories (NASDAQ:MLAB) Price Target Raised to $83.00

Mesa Laboratories (NASDAQ:MLAB) had its target price increased by stock analysts at Wells Fargo & Company from $75.00 to $83.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.12% from the stock’s current price.

Several other brokerages have also recently issued reports on MLAB. Zacks Research raised Mesa Laboratories to a “strong sell” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mesa Laboratories in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Mesa Laboratories has a consensus rating of “Sell” and a consensus target price of $83.00.

Mesa Laboratories Price Performance

MLAB stock traded up $0.44 during mid-day trading on Monday, hitting $78.21. The company had a trading volume of 23,517 shares, compared to its average volume of 105,891. The company has a market capitalization of $431.88 million, a price-to-earnings ratio of -243.67 and a beta of 0.90. Mesa Laboratories has a 12-month low of $55.45 and a 12-month high of $155.12. The company has a quick ratio of 1.44, a current ratio of 2.02 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average price of $75.50 and a 200 day moving average price of $77.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Mesa Laboratories by 17,733.3% during the third quarter. Farther Finance Advisors LLC now owns 535 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 532 shares during the period. CWM LLC boosted its holdings in shares of Mesa Laboratories by 48.9% in the third quarter. CWM LLC now owns 597 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 196 shares during the period. State of Wyoming grew its stake in Mesa Laboratories by 501.4% in the first quarter. State of Wyoming now owns 427 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 356 shares in the last quarter. Quantbot Technologies LP purchased a new position in Mesa Laboratories during the 1st quarter worth $67,000. Finally, BNP Paribas Financial Markets raised its position in Mesa Laboratories by 30.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 243 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.