Zacks Investment Research upgraded shares of Mesa Laboratories (NASDAQ:MLAB) from a sell rating to a buy rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has $244.00 price target on the medical instruments supplier’s stock.

According to Zacks, “MESA LABORATORIES, INC. designs, develops, acquires, manufactures and markets instruments and systems utilized in connection with industrial applications and hemodialysis therapy. “

A number of other equities analysts also recently commented on the stock. TheStreet upgraded shares of Mesa Laboratories from a c+ rating to a b rating in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Mesa Laboratories from a buy rating to a hold rating in a research note on Thursday, August 8th. Finally, BidaskClub downgraded shares of Mesa Laboratories from a buy rating to a hold rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $244.00.

Mesa Laboratories stock opened at $220.50 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 1.26. Mesa Laboratories has a 1-year low of $167.34 and a 1-year high of $268.47. The firm has a market capitalization of $842.16 million, a P/E ratio of 41.06 and a beta of 0.23. The company’s 50-day moving average is $235.44 and its 200 day moving average is $233.39.

Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Monday, June 3rd. The medical instruments supplier reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.74). Mesa Laboratories had a return on equity of 19.67% and a net margin of 7.53%. The firm had revenue of $26.45 million during the quarter, compared to analysts’ expectations of $29.00 million. Research analysts anticipate that Mesa Laboratories will post 7.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.29%. Mesa Laboratories’s dividend payout ratio is currently 11.92%.

Hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc grew its stake in Mesa Laboratories by 789.6% in the 2nd quarter. NEXT Financial Group Inc now owns 1,281 shares of the medical instruments supplier’s stock worth $313,000 after acquiring an additional 1,137 shares in the last quarter. Geode Capital Management LLC grew its stake in Mesa Laboratories by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 38,704 shares of the medical instruments supplier’s stock worth $8,065,000 after acquiring an additional 2,868 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in Mesa Laboratories by 2,072.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 29,440 shares of the medical instruments supplier’s stock worth $7,193,000 after acquiring an additional 28,085 shares in the last quarter. Bank of America Corp DE grew its stake in Mesa Laboratories by 422.6% in the 4th quarter. Bank of America Corp DE now owns 16,487 shares of the medical instruments supplier’s stock worth $3,436,000 after acquiring an additional 13,332 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Mesa Laboratories by 70,300.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 704 shares of the medical instruments supplier’s stock worth $162,000 after acquiring an additional 703 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Mesa Laboratories

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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