Mesa Laboratories (NASDAQ:MLAB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mesa Laboratories (NASDAQ:MLAB) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company increased their price target on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Mesa Laboratories currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Mesa Laboratories Stock Up 7.3%

MLAB stock opened at $142.23 on Friday. Mesa Laboratories has a one year low of $66.56 and a one year high of $143.43. The firm has a market cap of $796.49 million, a PE ratio of 169.32 and a beta of 1.06. The firm’s 50 day moving average price is $120.59 and its 200-day moving average price is $106.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.79.

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

Insider Activity at Mesa Laboratories

In other news, Director R Tripeny acquired 900 shares of the company’s stock in a transaction dated 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 owned 6,298 shares of the company’s stock, valued at $716,019.62. This represents a 16.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Sullivan sold 7,093 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $112.80, for a total value of $800,090.40. Following the completion of the sale, the director owned 17,834 shares in the company, valued at $2,011,675.20. This represents a 28.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Mesa Laboratories

Several hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP grew its position in Mesa Laboratories by 291.2% in the 2nd quarter. Engineers Gate Manager LP now owns 14,731 shares of the medical instruments supplier’s stock valued at $1,466,000 after acquiring an additional 10,965 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Mesa Laboratories during the second quarter worth about $87,000. Baird Financial Group Inc. acquired a new stake in shares of Mesa Laboratories during the second quarter worth about $231,000. Allworth Financial LP boosted its stake in shares of Mesa Laboratories by 110.0% in the second quarter. Allworth Financial LP now owns 523 shares of the medical instruments supplier’s stock valued at $52,000 after purchasing an additional 274 shares during the period. Finally, Corient Private Wealth LP purchased a new position in shares of Mesa Laboratories in the second quarter valued at approximately $241,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

About Mesa Laboratories

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.