Mesa Laboratories (NASDAQ:MLAB) PT Lowered to $106.00 at Evercore ISI

Mesa Laboratories (NASDAQ:MLAB) had its target price reduced by Evercore ISI from $120.00 to $106.00 in a report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical instruments supplier’s stock.

Mesa Laboratories Price Performance

Shares of Mesa Laboratories stock opened at $90.42 on Tuesday. The business has a 50 day moving average of $103.88 and a 200 day moving average of $102.52. Mesa Laboratories has a 52 week low of $82.86 and a 52 week high of $145.46. The company has a market cap of $487.73 million, a PE ratio of -1.92 and a beta of 0.86. The company has a quick ratio of 1.86, a current ratio of 0.37 and a debt-to-equity ratio of 0.58.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings data on Wednesday, June 5th. The medical instruments supplier reported $2.25 EPS for the quarter. Mesa Laboratories had a negative net margin of 117.61% and a positive return on equity of 10.10%. The business had revenue of $58.90 million during the quarter. As a group, equities research analysts forecast that Mesa Laboratories will post 6.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boone Capital Management LLC bought a new stake in shares of Mesa Laboratories during the fourth quarter valued at approximately $6,712,000. Motley Fool Asset Management LLC boosted its holdings in shares of Mesa Laboratories by 643.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,776 shares of the medical instruments supplier’s stock valued at $7,108,000 after buying an additional 56,067 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of Mesa Laboratories by 9.1% during the 4th quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier’s stock valued at $60,606,000 after buying an additional 48,253 shares in the last quarter. Comerica Bank purchased a new stake in shares of Mesa Laboratories in the 3rd quarter worth about $4,849,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Mesa Laboratories by 87.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 94,337 shares of the medical instruments supplier’s stock worth $9,912,000 after acquiring an additional 44,002 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.