Mettler-Toledo International (NYSE:MTD) Upgraded at Citigroup

Citigroup upgraded shares of Mettler-Toledo International (NYSE:MTD) from a neutral rating to a buy rating in a research note published on Monday, MarketBeat reports. They currently have $1,400.00 price objective on the medical instruments supplier’s stock.

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

Mettler-Toledo International Price Performance

MTD opened at $1,061.41 on Monday. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.30 and a beta of 1.28. The business’s 50-day moving average price is $1,230.71 and its two-hundred day moving average price is $1,281.55. Mettler-Toledo International has a 1 year low of $946.69 and a 1 year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its quarterly 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 negative return on equity of 591.54% and a net margin of 22.29%. Sell-side analysts anticipate that Mettler-Toledo International will post 42.71 earnings per share for the current fiscal year.

Insider Activity at Mettler-Toledo International

In other news, insider Gerry Keller sold 600 shares of the business’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 owns 6 shares of the company’s stock, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian Magloth sold 790 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now directly owns 734 shares in the company, 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. 1.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Mettler-Toledo International

A number of hedge funds have recently made changes to their positions in MTD. Benjamin Edwards Inc. bought a new stake in shares of Mettler-Toledo International during the third quarter worth $289,000. Kovitz Investment Group Partners LLC increased its holdings 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 in the last quarter. EP Wealth Advisors LLC bought a new position in Mettler-Toledo International in the third quarter valued at about $223,000. National Bank of Canada FI boosted its stake in shares of Mettler-Toledo International by 107.8% during the third quarter. National Bank of Canada FI now owns 14,452 shares of the medical instruments supplier’s stock valued at $21,632,000 after purchasing an additional 7,496 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Mettler-Toledo International by 488.0% during the third quarter. MML Investors Services LLC now owns 1,076 shares of the medical instruments supplier’s stock worth $1,614,000 after purchasing an additional 893 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

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.