Mettler-Toledo International (NYSE:MTD) Sets New 1-Year High on Analyst Upgrade

Mettler-Toledo International, Inc. (NYSE:MTD – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $1,450.00 to $1,575.00. Morgan Stanley currently has an equal weight rating on the stock. Mettler-Toledo International traded as high as $1,587.74 and last traded at $1,564.2610, with a volume of 9,935 shares changing hands. The stock had previously closed at $1,563.01.

Several other analysts also recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays increased their price objective on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Stifel Nicolaus increased their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Rothschild & Co Redburn assumed coverage on Mettler-Toledo International in a report on Wednesday, September 2nd. They set a “sell” rating and a $1,200.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They set a “sector perform” rating and a $1,515.00 target price for the company. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,469.15.

Check Out Our Latest Research Report on MTD

Insider Buying and Selling at Mettler-Toledo International

In related news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at $6,384,000. This trade represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Salice sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the completion of the transaction, the director directly owned 292 shares of the company’s stock, valued at $420,599.72. This trade represents a 58.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,254 shares of company stock valued at $6,092,712 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

Several institutional investors and hedge funds have recently bought and sold shares of MTD. XXEC Inc. acquired a new position in Mettler-Toledo International during the 2nd quarter valued at approximately $77,044,000. BlackRock Inc. purchased a new position in Mettler-Toledo International during the second quarter valued at approximately $2,404,713,000. Bank of New York Mellon Corp acquired a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $762,553,000. Wellington Management Group LLP boosted its stake in shares of Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock worth $586,459,000 after acquiring an additional 413,547 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at approximately $240,817,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45. The firm’s fifty day moving average is $1,434.16 and its 200 day moving average is $1,308.99. The company has a market cap of $32.27 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.78 by $0.68. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. Mettler-Toledo International’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $10.09 EPS. As a group, research analysts predict that Mettler-Toledo International, Inc. will post 47.37 EPS for the current fiscal year.

Mettler-Toledo International Company Profile

(Get Free Report)

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company’s solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.

Further Reading

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