Hello there,
Well you certainly have fantastic test scores! Now since you are an older candidate with a PhD the first thing the schools will as is: why MBA? why now? how will you use your specialized Phd knowledge? And this is the most important thing.
Afterwards, with those grades I’d say S16 should be fine for you. M7 alone would be a bit challenging because of the age and low work experience, but you can still give them a shot.