Evercore ISI Raises Mesa Laboratories (NASDAQ:MLAB) Price Target to $120.00

Mesa Laboratories (NASDAQ:MLAB) had its price target increased by Evercore ISI from $106.00 to $120.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the medical instruments supplier’s stock.

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB opened at $128.24 on Tuesday. The company’s fifty day moving average is $100.60 and its 200 day moving average is $103.76. 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 52 week low of $82.86 and a 52 week high of $145.46. The stock has a market cap of $693.65 million, a PE ratio of -2.72 and a beta of 0.86.

Mesa Laboratories (NASDAQ:MLAB) last released its quarterly earnings data on Wednesday, June 5th. The medical instruments supplier reported $2.25 EPS for the quarter. The firm had revenue of $58.90 million for the quarter. Mesa Laboratories had a positive return on equity of 10.10% and a negative net margin of 117.61%. Research analysts anticipate that Mesa Laboratories will post 6.91 earnings per share for the current year.

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, August 30th. Mesa Laboratories’s dividend payout ratio is -1.36%.

Institutional Investors Weigh In On Mesa Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boone Capital Management LLC purchased a new position in shares of Mesa Laboratories in the fourth quarter valued at about $6,712,000. Motley Fool Asset Management LLC raised its position in Mesa Laboratories by 643.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,776 shares of the medical instruments supplier’s stock valued at $7,108,000 after purchasing an additional 56,067 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Mesa Laboratories by 9.1% in the 4th quarter. Conestoga Capital Advisors LLC now owns 578,463 shares of the medical instruments supplier’s stock worth $60,606,000 after buying an additional 48,253 shares during the period. Raymond James & Associates lifted its holdings in Mesa Laboratories by 58.4% in the 1st quarter. Raymond James & Associates now owns 74,456 shares of the medical instruments supplier’s stock worth $8,170,000 after buying an additional 27,437 shares during the period. Finally, Keeley Teton Advisors LLC bought a new stake in shares of Mesa Laboratories in the 1st quarter worth approximately $2,606,000. 90.60% of the stock is currently owned by institutional investors.

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.