Mesa Laboratories (NASDAQ:MLAB) Given New $100.00 Price Target at Wells Fargo & Company

Mesa Laboratories (NASDAQ:MLAB) had its price objective cut by investment analysts at Wells Fargo & Company from $120.00 to $100.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 2.61% from the stock’s previous close.

Mesa Laboratories Trading Down 1.9%

NASDAQ:MLAB opened at $102.68 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $115.26 and its two-hundred day moving average is $126.17. Mesa Laboratories has a 52 week low of $83.68 and a 52 week high of $155.12. The company has a market cap of $557.96 million, a PE ratio of -2.22 and a beta of 0.97.

Insider Buying and Selling

In related news, CEO Gary M. Owens sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total value of $2,602,110.00. Following the sale, the chief executive officer now owns 43,337 shares of the company’s stock, valued at approximately $5,369,887.67. This trade represents a 32.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Mesa Laboratories

Several hedge funds have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC lifted its holdings in shares of Mesa Laboratories by 8.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 573,037 shares of the medical instruments supplier’s stock worth $75,566,000 after purchasing an additional 43,927 shares during the last quarter. Vanguard Group Inc. increased its position in Mesa Laboratories by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 384,613 shares of the medical instruments supplier’s stock valued at $45,638,000 after acquiring an additional 1,757 shares during the period. Raymond James Financial Inc. increased its position in Mesa Laboratories by 6.5% in the 1st quarter. Raymond James Financial Inc. now owns 264,013 shares of the medical instruments supplier’s stock valued at $31,328,000 after acquiring an additional 16,218 shares during the period. Ameriprise Financial Inc. increased its position in Mesa Laboratories by 191.8% in the 4th quarter. Ameriprise Financial Inc. now owns 151,862 shares of the medical instruments supplier’s stock valued at $20,026,000 after acquiring an additional 99,819 shares during the period. Finally, Northern Trust Corp increased its position in Mesa Laboratories by 2.0% in the 4th quarter. Northern Trust Corp now owns 93,789 shares of the medical instruments supplier’s stock valued at $12,368,000 after acquiring an additional 1,825 shares during the period. Institutional investors own 90.60% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.