Mesa Laboratories (NASDAQ:MLAB) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Mesa Laboratories (NASDAQ:MLAB - Get Free Report) in a research report issued on Tuesday, Benzinga reports. The firm set an "underweight" rating and a $120.00 price target on the medical instruments supplier's stock. Wells Fargo & Company's target price suggests a potential downside of 14.81% from the stock's previous close.

Separately, Evercore ISI upped their price target on shares of Mesa Laboratories from $106.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th.

Mesa Laboratories Trading Up 2.3 %

Shares of MLAB traded up $3.11 during mid-day trading on Tuesday, reaching $140.86. The company's stock had a trading volume of 28,708 shares, compared to its average volume of 43,851. The stock has a market cap of $761.91 million, a PE ratio of -2.99 and a beta of 0.86. The company has a current ratio of 0.37, a quick ratio of 1.86 and a debt-to-equity ratio of 0.58. Mesa Laboratories has a 52 week low of $82.86 and a 52 week high of $145.46. The company's fifty day moving average price is $107.94 and its two-hundred day moving average price is $106.75.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 5th. The medical instruments supplier reported $2.25 earnings per share for the quarter. The firm had revenue of $58.90 million during the quarter. Mesa Laboratories had a negative net margin of 117.61% and a positive return on equity of 10.10%. On average, analysts predict that Mesa Laboratories will post 6.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLAB. Boone Capital Management LLC purchased a new position in shares of Mesa Laboratories in the fourth quarter valued at $6,712,000. Motley Fool Asset Management LLC lifted its position in shares of Mesa Laboratories by 643.8% during the first quarter. Motley Fool Asset Management LLC now owns 64,776 shares of the medical instruments supplier's stock worth $7,108,000 after purchasing an additional 56,067 shares during the last quarter. Meros Investment Management LP purchased a new position in shares of Mesa Laboratories during the second quarter valued at $2,456,000. Raymond James & Associates increased its stake in shares of Mesa Laboratories by 58.4% during the first quarter. Raymond James & Associates now owns 74,456 shares of the medical instruments supplier's stock valued at $8,170,000 after buying an additional 27,437 shares during the period. Finally, Keeley Teton Advisors LLC purchased a new position in Mesa Laboratories in the first quarter valued at about $2,606,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.

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