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

Mettler-Toledo International, Inc. (NYSE:MTD) shares 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 trading hands. The stock had previously closed at $1,563.01.

Several other research firms also recently issued reports on MTD. UBS Group assumed coverage on shares of Mettler-Toledo International in a report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 price objective on the stock. Barclays lifted their target price on shares of Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Royal Bank Of Canada assumed coverage on shares of Mettler-Toledo International in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $1,515.00 target price for the company. Stifel Nicolaus upped their price target on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Five equities 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1,469.15.

Insider Transactions at Mettler-Toledo International

In other news, insider Gerry Keller sold 240 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total value of $342,513.60. Following the sale, the insider directly owned 259 shares of the company’s stock, valued at $369,629.26. The trade was a 48.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Salice sold 417 shares of Mettler-Toledo International 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 value of $600,650.97. Following the completion of the sale, the director directly owned 292 shares in the company, valued at $420,599.72. This represents a 58.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,254 shares of company stock worth $6,092,712. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Mettler-Toledo International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. XXEC Inc. acquired a new position in Mettler-Toledo International in the 2nd quarter valued at about $77,044,000. BlackRock Inc. acquired a new stake in shares of Mettler-Toledo International during the 2nd quarter worth approximately $2,404,713,000. Bank of New York Mellon Corp acquired a new stake in shares of Mettler-Toledo International during the 2nd quarter worth approximately $762,553,000. Wellington Management Group LLP raised its position 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 valued at $586,459,000 after buying an additional 413,547 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at approximately $240,817,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Trading Up 0.8%

The stock 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. The company’s 50-day moving average price is $1,434.16 and its 200 day moving average price is $1,308.99. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $10.09 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Mettler-Toledo International, Inc. will post 47.37 EPS for the current fiscal year.

Mettler-Toledo International Company Profile

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.