Mettler-Toledo International (NYSE:MTD) Reaches New 52-Week Low – Here’s What Happened

Mettler-Toledo International Inc. (NYSE:MTD)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $1,000.72 and last traded at $1,042.40, with a volume of 424774 shares changing hands. The stock had previously closed at $1,095.24.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MTD shares. Wolfe Research assumed coverage on Mettler-Toledo International in a research report on Friday, December 13th. They issued a “peer perform” rating for the company. Evercore ISI increased their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Citigroup upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 price target for the company in a research report on Monday. Robert W. Baird increased their price objective on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company lifted their target price on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,380.50.

Mettler-Toledo International Trading Up 0.2 %

The stock has a market cap of $21.36 billion, a PE ratio of 25.47, a P/E/G ratio of 3.30 and a beta of 1.28. The business has a fifty day simple moving average of $1,264.13 and a two-hundred day simple moving average of $1,293.69.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping analysts’ consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. On average, research analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other news, insider Gerry Keller sold 600 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the completion of the transaction, the insider now directly owns 6 shares in the company, valued at $8,108.04. This trade represents a 99.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian Magloth sold 790 shares of Mettler-Toledo International stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the completion of the transaction, the insider now directly owns 734 shares of the company’s stock, valued at $964,248.46. This trade represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

A number of hedge funds have recently added to or reduced their stakes in MTD. Benjamin Edwards Inc. purchased a new stake in shares of Mettler-Toledo International during the 3rd quarter valued at about $289,000. Wellington Management Group LLP raised its holdings in Mettler-Toledo International by 17.5% during the third quarter. Wellington Management Group LLP now owns 177,963 shares of the medical instruments supplier’s stock valued at $266,891,000 after acquiring an additional 26,443 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Mettler-Toledo International by 64.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 704 shares of the medical instruments supplier’s stock worth $1,056,000 after purchasing an additional 275 shares during the period. EP Wealth Advisors LLC purchased a new position in Mettler-Toledo International during the third quarter valued at $223,000. Finally, National Bank of Canada FI lifted its position in shares of Mettler-Toledo International by 107.8% in the third quarter. National Bank of Canada FI now owns 14,452 shares of the medical instruments supplier’s stock worth $21,632,000 after buying an additional 7,496 shares in the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company’s laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.