Analysts Set $190.00 Price Target for Mesa Laboratories, Inc. (MLAB)
Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price objective of $190.00 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Mesa Laboratories an industry rank of 110 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on the stock. BidaskClub cut shares of Mesa Laboratories from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. TheStreet cut shares of Mesa Laboratories from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Mesa Laboratories from a “strong sell” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 3rd.
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Shares of Mesa Laboratories (NASDAQ MLAB) traded up 3.66% during midday trading on Friday, reaching $160.83. 16,974 shares of the company were exchanged. The firm’s 50 day moving average is $148.87 and its 200-day moving average is $143.83. The company has a market capitalization of $604.40 million, a PE ratio of 57.81 and a beta of 0.49. Mesa Laboratories has a 52-week low of $109.14 and a 52-week high of $169.81.
Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Monday, July 31st. The medical instruments supplier reported $0.39 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.17). Mesa Laboratories had a return on equity of 16.58% and a net margin of 11.31%. The business had revenue of $22.67 million during the quarter, compared to the consensus estimate of $22.90 million. On average, equities analysts forecast that Mesa Laboratories will post $2.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 29th. Mesa Laboratories’s dividend payout ratio (DPR) is presently 22.94%.
In related news, Director H Stuart Campbell sold 2,000 shares of Mesa Laboratories stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $143.37, for a total value of $286,740.00. Following the transaction, the director now owns 49,976 shares of the company’s stock, valued at approximately $7,165,059.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,610 shares of company stock worth $1,176,809 in the last three months. 15.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in Mesa Laboratories by 4.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 70,189 shares of the medical instruments supplier’s stock worth $10,059,000 after purchasing an additional 3,001 shares in the last quarter. DF Dent & Co. Inc. increased its stake in Mesa Laboratories by 38.2% in the 2nd quarter. DF Dent & Co. Inc. now owns 8,494 shares of the medical instruments supplier’s stock worth $1,217,000 after purchasing an additional 2,346 shares in the last quarter. Spark Investment Management LLC purchased a new position in Mesa Laboratories in the 2nd quarter worth about $300,000. Thomson Horstmann & Bryant Inc. increased its stake in Mesa Laboratories by 75.4% in the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 72,362 shares of the medical instruments supplier’s stock worth $10,370,000 after purchasing an additional 31,107 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Mesa Laboratories by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 87,271 shares of the medical instruments supplier’s stock worth $12,507,000 after purchasing an additional 7,771 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
Mesa Laboratories Company Profile
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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