Mesa Laboratories (NASDAQ:MLAB) Stock Rating Lowered by StockNews.com

Mesa Laboratories (NASDAQ:MLAB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI increased their price objective on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price target on the stock.

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $135.91 on Friday. The stock has a market capitalization of $735.14 million, a P/E ratio of -2.88 and a beta of 0.85. The business has a 50-day moving average of $127.88 and a two-hundred day moving average of $112.96. Mesa Laboratories has a fifty-two week low of $82.86 and a fifty-two week high of $141.17. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.37.

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, topping 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, equities research analysts predict that Mesa Laboratories will post 7.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in Mesa Laboratories during the second quarter worth about $26,000. EntryPoint Capital LLC boosted its stake in Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after acquiring an additional 193 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Mesa Laboratories during the second quarter valued at approximately $183,000. Louisiana State Employees Retirement System increased its stake in Mesa Laboratories by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock valued at $226,000 after purchasing an additional 100 shares in the last quarter. Finally, Choreo LLC bought a new stake in Mesa Laboratories in the second quarter valued at approximately $265,000. Institutional investors own 90.60% of the company’s stock.

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.