Mesa Laboratories (NASDAQ:MLAB) Shares Down 7.8%

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) fell 7.8% on Tuesday . The company traded as low as $103.12 and last traded at $103.24. 30,204 shares changed hands during trading, a decline of 40% from the average session volume of 50,672 shares. The stock had previously closed at $112.00.

Analysts Set New Price Targets

Separately, Evercore ISI raised Mesa Laboratories from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $100.00 to $125.00 in a report on Thursday, January 4th.

Mesa Laboratories Trading Down 11.3 %

The company has a market capitalization of $535.77 million, a PE ratio of 584.74 and a beta of 0.83. The company has a current ratio of 2.68, a quick ratio of 1.86 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $102.22 and a two-hundred day moving average of $100.17.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The medical instruments supplier reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.01). The company had revenue of $53.47 million during the quarter, compared to analysts' expectations of $54.90 million. Mesa Laboratories had a return on equity of 7.41% and a net margin of 0.45%. As a group, sell-side analysts anticipate that Mesa Laboratories, Inc. will post 6.15 earnings per share for the current fiscal year.

Institutional Trading of Mesa Laboratories

A number of institutional investors have recently modified their holdings of MLAB. BlackRock Inc. grew its stake in shares of Mesa Laboratories by 0.4% in the first quarter. BlackRock Inc. now owns 924,948 shares of the medical instruments supplier's stock worth $235,751,000 after purchasing an additional 4,061 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Mesa Laboratories by 9.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier's stock worth $60,606,000 after purchasing an additional 48,253 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Mesa Laboratories by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 370,278 shares of the medical instruments supplier's stock worth $38,794,000 after purchasing an additional 7,274 shares during the last quarter. Invesco Ltd. boosted its position in Mesa Laboratories by 0.7% during the 1st quarter. Invesco Ltd. now owns 277,550 shares of the medical instruments supplier's stock valued at $70,742,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Morgan Stanley boosted its position in Mesa Laboratories by 808.7% during the 4th quarter. Morgan Stanley now owns 263,735 shares of the medical instruments supplier's stock valued at $43,835,000 after acquiring an additional 234,712 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About Mesa Laboratories

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.