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

Mesa Laboratories (NASDAQ:MLAB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 target price for the company. Evercore ISI boosted their price objective on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st.

Mesa Laboratories Trading Down 2.9 %

Shares of MLAB stock opened at $104.60 on Wednesday. Mesa Laboratories has a 1-year low of $83.68 and a 1-year high of $141.17. The firm has a market cap of $567.98 million, a PE ratio of -2.30 and a beta of 0.87. The company has a 50-day moving average of $123.52 and a two-hundred day moving average of $114.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51.

Insider Activity at Mesa Laboratories

In other news, CEO Gary M. Owens sold 2,518 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the sale, the chief executive officer now directly owns 45,888 shares in the company, valued at approximately $5,213,794.56. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories 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 disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Mesa Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Mesa Laboratories by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier’s stock valued at $40,973,000 after acquiring an additional 3,119 shares during the last quarter. Geneva Capital Management LLC increased its stake in Mesa Laboratories by 2.0% in the third quarter. Geneva Capital Management LLC now owns 191,976 shares of the medical instruments supplier’s stock valued at $24,930,000 after purchasing an additional 3,732 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Mesa Laboratories by 10.9% during the third quarter. Eagle Asset Management Inc. now owns 165,955 shares of the medical instruments supplier’s stock worth $19,722,000 after purchasing an additional 16,293 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mesa Laboratories by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 131,891 shares of the medical instruments supplier’s stock worth $11,444,000 after buying an additional 8,722 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Mesa Laboratories by 8.4% in the 2nd quarter. Raymond James & Associates now owns 80,739 shares of the medical instruments supplier’s stock valued at $7,006,000 after buying an additional 6,283 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.