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

Mesa Laboratories (NASDAQ:MLAB) had its target price increased by Jefferies Financial Group from $125.00 to $150.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Financial Group‘s price objective suggests a potential upside of 9.56% from the company’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company raised their price target on shares of Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Weiss Ratings raised shares of Mesa Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research note 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 company currently has a consensus rating of “Hold” and an average target price of $130.00.

Mesa Laboratories Stock Performance

MLAB stock traded up $9.09 on Tuesday, reaching $136.91. 234,059 shares of the company were exchanged, compared to its average volume of 140,905. The firm has a market capitalization of $766.70 million, a PE ratio of 162.99 and a beta of 1.08. Mesa Laboratories has a 12 month low of $69.51 and a 12 month high of $144.35. The stock’s fifty day moving average price is $128.27 and its 200 day moving average price is $105.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32.

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

Insider Activity

In related news, Director John Sullivan sold 7,093 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $112.80, for a total value of $800,090.40. Following the completion of the transaction, the director directly owned 17,834 shares of the company’s stock, valued at $2,011,675.20. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Tripeny bought 900 shares of Mesa Laboratories stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $113.69 per share, with a total value of $102,321.00. Following the completion of the transaction, the director owned 6,298 shares of the company’s stock, valued at $716,019.62. This trade represents a 16.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mesa Laboratories

A number of hedge funds have recently made changes to their positions in the business. Public Sector Pension Investment Board bought a new stake in shares of Mesa Laboratories in the 3rd quarter valued at approximately $2,001,000. Aberdeen Group plc acquired a new position in shares of Mesa Laboratories in the 3rd quarter worth approximately $13,137,000. William Blair Investment Management LLC bought a new position in shares of Mesa Laboratories during the 3rd quarter worth approximately $16,934,000. Keybank National Association OH bought a new position in shares of Mesa Laboratories during the 3rd quarter worth approximately $488,000. Finally, State of Wyoming bought a new position in shares of Mesa Laboratories during the 3rd quarter worth approximately $91,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.