Mesa Laboratories (NASDAQ:MLAB) Price Target Cut to $106.00 by Analysts at Evercore ISI

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

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $91.48 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.37 and a quick ratio of 1.86. Mesa Laboratories has a 1-year low of $82.86 and a 1-year high of $145.46. The company has a market capitalization of $494.91 million, a P/E ratio of -1.94 and a beta of 0.86. The firm’s 50 day simple moving average is $103.65 and its two-hundred day simple moving average is $102.42.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Wednesday, June 5th. The medical instruments supplier reported $2.25 earnings per share 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 for the quarter. Research analysts expect that Mesa Laboratories will post 6.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Mesa Laboratories

Several large investors have recently added to or reduced their stakes in MLAB. Quadrant Capital Group LLC raised its position in shares of Mesa Laboratories by 515.6% during the fourth quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Mesa Laboratories by 35.2% during the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 193 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Mesa Laboratories during the fourth quarter valued at approximately $272,000. Price T Rowe Associates Inc. MD raised its position in shares of Mesa Laboratories by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier’s stock valued at $316,000 after buying an additional 175 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Mesa Laboratories by 66.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,044 shares of the medical instruments supplier’s stock valued at $553,000 after buying an additional 2,010 shares during 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.