Mesa Laboratories (NASDAQ:MLAB) Price Target Raised to $150.00

Mesa Laboratories (NASDAQ:MLAB) had its price objective hoisted by Jefferies Financial Group from $125.00 to $150.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Wall Street Zen upgraded shares of Mesa Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings upgraded shares of Mesa Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $130.00.

Mesa Laboratories Trading Down 2.9%

Shares of Mesa Laboratories stock opened at $135.20 on Tuesday. Mesa Laboratories has a twelve month low of $69.51 and a twelve month high of $144.35. The company has a quick ratio of 1.32, a current ratio of 1.90 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $128.82 and a 200-day moving average price of $105.96. The firm has a market cap of $759.82 million, a price-to-earnings ratio of 18.46 and a beta of 1.08.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 EPS for the quarter. The company had revenue of $60.14 million for the quarter. Mesa Laboratories had a return on equity of 22.77% and a net margin of 2.65%.

Mesa Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.16 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.5%. Mesa Laboratories’s dividend payout ratio (DPR) is currently 56.14%.

Institutional Investors Weigh In On Mesa Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLAB. Private Advisor Group LLC bought a new stake in shares of Mesa Laboratories in the 3rd quarter valued at approximately $251,000. Meeder Asset Management Inc. bought a new position in shares of Mesa Laboratories during the 3rd quarter valued at approximately $49,000. Public Sector Pension Investment Board bought a new position in shares of Mesa Laboratories during the 3rd quarter valued at approximately $2,001,000. Aberdeen Group plc purchased a new stake in Mesa Laboratories during the 3rd quarter valued at $13,137,000. Finally, William Blair Investment Management LLC purchased a new stake in Mesa Laboratories during the 3rd quarter valued at $16,934,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc. develops and manufactures instruments and consumable products used to monitor and control quality in life sciences and other regulated industries. Its offerings support activities such as sterilization and disinfection monitoring, laboratory testing, biopharmaceutical development, and equipment calibration. The company’s products include biological and chemical indicators, data loggers, calibration instruments, and tools used in clinical genomics and bioprocessing. Customers use these products to help verify processes, measure conditions, and meet quality requirements.