Mesa Laboratories (NASDAQ:MLAB - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $67.00 price objective on the medical instruments supplier's stock, down from their previous price objective of $100.00. Wells Fargo & Company's target price points to a potential upside of 10.76% from the company's current price.
Separately, Wall Street Zen downgraded Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th.
Check Out Our Latest Analysis on MLAB
Mesa Laboratories Stock Down 5.9%
Shares of MLAB traded down $3.80 during trading hours on Thursday, hitting $60.49. 38,163 shares of the company were exchanged, compared to its average volume of 84,298. The company has a market cap of $332.70 million, a PE ratio of -432.82 and a beta of 0.83. The firm's 50 day moving average is $87.56 and its 200-day moving average is $112.19. Mesa Laboratories has a 52 week low of $55.45 and a 52 week high of $155.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.47 and a current ratio of 0.66.
Insider Buying and Selling
In related news, CFO John Sakys sold 642 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $97.12, for a total transaction of $62,351.04. Following the completion of the transaction, the chief financial officer owned 12,865 shares of the company's stock, valued at approximately $1,249,448.80. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary M. Owens sold 1,939 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $188,315.68. Following the transaction, the chief executive officer directly owned 45,824 shares of the company's stock, valued at $4,450,426.88. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,053 shares of company stock valued at $296,507. Insiders own 4.90% of the company's stock.
Hedge Funds Weigh In On Mesa Laboratories
Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Mesa Laboratories by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 138,769 shares of the medical instruments supplier's stock valued at $13,076,000 after acquiring an additional 1,253 shares in the last quarter. Boston Partners boosted its position in Mesa Laboratories by 16.3% in the 2nd quarter. Boston Partners now owns 5,421 shares of the medical instruments supplier's stock valued at $511,000 after buying an additional 758 shares during the last quarter. Geneva Capital Management LLC boosted its position in Mesa Laboratories by 5.2% in the 2nd quarter. Geneva Capital Management LLC now owns 199,092 shares of the medical instruments supplier's stock valued at $18,758,000 after buying an additional 9,780 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Mesa Laboratories by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,483 shares of the medical instruments supplier's stock valued at $1,930,000 after buying an additional 1,425 shares during the last quarter. Finally, MQS Management LLC bought a new position in Mesa Laboratories in the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 90.60% of the company's stock.
About Mesa Laboratories
(
Get Free Report)
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.
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