Mesa Laboratories (NASDAQ:MLAB) Given New $110.00 Price Target at Wells Fargo & Company

Mesa Laboratories (NASDAQ:MLAB) had its target price lifted by Wells Fargo & Company from $94.00 to $110.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the medical instruments supplier’s stock.

Separately, Weiss Ratings upgraded Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.00.

Mesa Laboratories Trading Down 6.3%

NASDAQ:MLAB opened at $106.04 on Friday. The business’s 50-day moving average is $100.64 and its two-hundred day moving average is $95.97. The firm has a market capitalization of $593.82 million, a PE ratio of 126.24 and a beta of 0.92. Mesa Laboratories has a 12 month low of $58.83 and a 12 month high of $115.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.29.

Mesa Laboratories (NASDAQ:MLAB) last posted its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. The business had revenue of $60.14 million during the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.

Mesa Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Mesa Laboratories’s payout ratio is presently 76.19%.

Insider Buying and Selling

In other Mesa Laboratories news, SVP Brian David Archbold sold 2,516 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $89.50, for a total transaction of $225,182.00. Following the completion of the sale, the senior vice president owned 6,377 shares in the company, valued at $570,741.50. This trade represents a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Sakys sold 2,827 shares of Mesa Laboratories stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $89.50, for a total value of $253,016.50. Following the sale, the chief financial officer owned 19,785 shares in the company, valued at $1,770,757.50. This represents a 12.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 8,277 shares of company stock worth $770,122. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MLAB. Northwestern Mutual Wealth Management Co. increased its position in shares of Mesa Laboratories by 5,366.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 322 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Mesa Laboratories during the fourth quarter worth about $27,000. Kestra Advisory Services LLC bought a new position in shares of Mesa Laboratories during the fourth quarter worth about $55,000. BNP Paribas Financial Markets grew its stake in Mesa Laboratories by 30.9% in the third quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 243 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Mesa Laboratories by 432.9% in the second quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier’s stock valued at $79,000 after buying an additional 684 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

About Mesa Laboratories

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.