Mesa Laboratories (NASDAQ:MLAB) Stock Price Target Raised at Jefferies Financial Group

Mesa Laboratories (NASDAQ:MLAB) had its price objective boosted by stock analysts at Jefferies Financial Group from $125.00 to $150.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Financial Group‘s price target would indicate a potential upside of 9.56% from the company’s current price.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Mesa Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Wells Fargo & Company lifted their price objective on shares of Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $130.00.

Mesa Laboratories Stock Up 7.1%

Mesa Laboratories stock traded up $9.09 during trading hours on Tuesday, hitting $136.91. The company had a trading volume of 234,059 shares, compared to its average volume of 140,905. The firm has a market capitalization of $766.70 million, a P/E ratio of 162.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32. The firm’s fifty day moving average is $128.27 and its 200-day moving average is $105.16. Mesa Laboratories has a fifty-two week low of $69.51 and a fifty-two week high of $144.35.

Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%. The company had revenue of $60.14 million during the quarter.

Insider Activity

In related news, Director John Sullivan sold 7,093 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $112.80, for a total transaction of $800,090.40. Following the completion of the sale, the director directly owned 17,834 shares of the company’s stock, valued at approximately $2,011,675.20. This represents a 28.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Siddhartha Kadia bought 7,093 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $112.80 per share, for a total transaction of $800,090.40. Following the completion of the purchase, the chief executive officer directly owned 7,093 shares in the company, valued at $800,090.40. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Mesa Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its position in shares of Mesa Laboratories by 110.0% during the 2nd quarter. Allworth Financial LP now owns 523 shares of the medical instruments supplier’s stock worth $52,000 after purchasing an additional 274 shares during the last quarter. State of Wyoming acquired a new stake in Mesa Laboratories in the 3rd quarter valued at approximately $91,000. Integrated Wealth Concepts LLC acquired a new stake in Mesa Laboratories in the 2nd quarter valued at approximately $87,000. Sterling Capital Management LLC grew its holdings in Mesa Laboratories by 10,884.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,087 shares of the medical instruments supplier’s stock valued at $271,000 after buying an additional 2,068 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Mesa Laboratories in the 2nd quarter worth approximately $231,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc. develops and manufactures products used for quality control, monitoring, and measurement in healthcare, pharmaceutical, industrial, and other regulated applications. The company’s offerings are designed to help customers verify the performance of processes, equipment, and environmental conditions. Mesa Laboratories’ product portfolio includes sterilization assurance products, such as biological indicators and related monitoring systems, as well as instruments and consumables used in healthcare and laboratory settings.