Wells Fargo & Company Begins Coverage on Mesa Laboratories (NASDAQ:MLAB)

Wells Fargo & Company started coverage on shares of Mesa Laboratories (NASDAQ:MLAB) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued an underweight rating and a $120.00 target price on the medical instruments supplier’s stock.

Separately, Evercore ISI increased their price target on shares of Mesa Laboratories from $106.00 to $120.00 and gave the company an outperform rating in a report on Tuesday, August 6th.

Mesa Laboratories Stock Down 1.1 %

Mesa Laboratories stock opened at $134.20 on Tuesday. The stock has a market cap of $725.89 million, a P/E ratio of -2.85 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 has a twelve month low of $82.86 and a twelve month high of $145.46. The company’s 50-day moving average price is $110.67 and its two-hundred day moving average price is $107.47.

Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.55. The firm had revenue of $58.17 million for the quarter, compared to analysts’ expectations of $55.90 million. Mesa Laboratories had a negative net margin of 117.61% and a positive return on equity of 10.10%. As a group, analysts expect that Mesa Laboratories will post 6.91 EPS for the current year.

Mesa Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.48%. Mesa Laboratories’s payout ratio is presently -1.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new position in shares of Mesa Laboratories during the 2nd quarter worth approximately $26,000. Quadrant Capital Group LLC boosted its position in shares of Mesa Laboratories by 515.6% during the 4th quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after acquiring an additional 193 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Mesa Laboratories by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock worth $226,000 after acquiring an additional 100 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Mesa Laboratories during the 2nd quarter worth approximately $265,000. Institutional investors and hedge funds 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.