Wall Street Zen Downgrades Mesa Laboratories (NASDAQ:MLAB) to Buy

Mesa Laboratories (NASDAQ:MLAB) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently issued reports on MLAB. Weiss Ratings raised shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price target on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $110.00.

Mesa Laboratories Price Performance

MLAB stock opened at $106.04 on Friday. Mesa Laboratories has a fifty-two week low of $58.83 and a fifty-two week high of $115.52. The company has a market cap of $593.82 million, a price-to-earnings ratio of 126.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.79. The business’s 50-day moving average is $100.64 and its two-hundred day moving average is $96.07.

Mesa Laboratories (NASDAQ:MLAB) last announced its earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 EPS for the quarter. The business had revenue of $60.14 million during the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%.

Insider Activity

In other Mesa Laboratories news, SVP Brian David Archbold sold 2,516 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $225,182.00. Following the transaction, the senior vice president owned 6,377 shares in the company, valued at $570,741.50. The trade was a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lyndsey Elizabeth Crennen sold 442 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $89.50, for a total transaction of $39,559.00. Following the completion of the sale, the chief accounting officer directly owned 2,020 shares in the company, valued at $180,790. This trade represents a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 8,277 shares of company stock valued at $770,122 in the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of Mesa Laboratories by 802.9% in the 1st quarter. Renaissance Technologies LLC now owns 31,600 shares of the medical instruments supplier’s stock valued at $2,794,000 after purchasing an additional 28,100 shares in the last quarter. Irenic Capital Management LP purchased a new position in Mesa Laboratories during the fourth quarter worth approximately $1,962,000. Diamond Hill Capital Management Inc. grew its holdings in Mesa Laboratories by 15.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier’s stock valued at $11,145,000 after purchasing an additional 18,592 shares during the period. Gabelli Funds LLC grew its holdings in Mesa Laboratories by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 60,724 shares of the medical instruments supplier’s stock valued at $4,767,000 after purchasing an additional 6,750 shares during the period. Finally, Wasatch Advisors LP purchased a new stake in shares of Mesa Laboratories in the first quarter valued at approximately $4,530,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.