Mesa Laboratories (NASDAQ:MLAB) Stock Rating Upgraded by Wall Street Zen

Mesa Laboratories (NASDAQ:MLAB – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

MLAB has been the topic of a number of other reports. Wells Fargo & Company upped their price target 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. Weiss Ratings raised shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $110.00.

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Mesa Laboratories Stock Performance

NASDAQ:MLAB opened at $132.55 on Friday. Mesa Laboratories has a 12 month low of $66.56 and a 12 month high of $138.66. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $119.70 and its 200 day moving average is $105.58. The stock has a market capitalization of $742.28 million, a PE ratio of 157.80 and a beta of 1.06.

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

Insider Transactions at Mesa Laboratories

In related news, Director John Sullivan sold 7,093 shares of the 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 transaction, the director owned 17,834 shares of the company’s stock, valued at approximately $2,011,675.20. This trade represents a 28.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Tripeny purchased 900 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $113.69 per share, with a total value of $102,321.00. Following the completion of the purchase, the director directly owned 6,298 shares of the company’s stock, valued at $716,019.62. The trade was a 16.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MLAB. Caitong International Asset Management Co. Ltd bought a new stake in shares of Mesa Laboratories in the 4th quarter valued at about $27,000. Allworth Financial LP increased its stake in Mesa Laboratories by 110.0% in 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 period. Integrated Wealth Concepts LLC purchased a new position in Mesa Laboratories in the 2nd quarter worth approximately $87,000. Baird Financial Group Inc. purchased a new position in Mesa Laboratories in the 2nd quarter worth approximately $231,000. Finally, Corient Private Wealth LP bought a new stake in Mesa Laboratories in the second quarter valued at approximately $241,000. 90.60% of the stock is owned by institutional investors.

Mesa Laboratories Company Profile

(Get Free Report)

Mesa Laboratories, Inc (NASDAQ:MLAB) develops, manufactures and sells products used for quality control, safety monitoring and process validation across healthcare, pharmaceutical, industrial and research markets. The company’s offerings are designed to help customers monitor critical conditions and verify that sterilization, radiation exposure and other controlled processes meet established standards.

Mesa Laboratories’ products include biological and chemical indicators, process challenge devices and related systems for sterilization monitoring.

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