Mettler-Toledo International Inc. (MTD) Shares Gap Down to $375.32
Shares of Mettler-Toledo International Inc. (NYSE:MTD) gapped down prior to trading on Tuesday . The stock had previously closed at $374.72, but opened at $375.32. Mettler-Toledo International shares last traded at $380.33, with a volume of 44,722 shares traded.
MTD has been the subject of a number of recent research reports. Goldman Sachs Group Inc. boosted their target price on Mettler-Toledo International to $348.00 in a research report on Wednesday, March 23rd. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $399.00 target price for the company in a research report on Friday, April 8th. Morgan Stanley restated an “equal weight” rating and issued a $333.00 target price on shares of Mettler-Toledo International in a research report on Tuesday, March 29th. Robert W. Baird restated a “hold” rating on shares of Mettler-Toledo International in a research report on Friday, May 6th. Finally, Citigroup Inc. cut Mettler-Toledo International from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $382.00 to $400.00 in a research note on Thursday, June 23rd. Eight equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $349.29.
The firm has a market cap of $10.14 billion and a PE ratio of 29.78. The stock’s 50-day moving average is $372.01 and its 200-day moving average is $345.44.
Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, May 5th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. During the same quarter in the prior year, the business posted $2.25 EPS. The business had revenue of $539.70 million for the quarter, compared to analysts’ expectations of $534.05 million. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that Mettler-Toledo International Inc. will post $14.31 EPS for the current fiscal year.
In related news, Director Wah-Hui Chu sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $384.00, for a total transaction of $384,000.00. Following the completion of the transaction, the director now directly owns 3,684 shares of the company’s stock, valued at $1,414,656. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Oliver A. Filliol sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $365.74, for a total value of $5,486,100.00. Following the transaction, the chief executive officer now directly owns 19,979 shares of the company’s stock, valued at $7,307,119.46. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Mettler-Toledo International by 6.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 3,716 shares of the company’s stock worth $1,260,000 after buying an additional 210 shares during the last quarter. Profund Advisors LLC raised its stake in Mettler-Toledo International by 64.8% in the fourth quarter. Profund Advisors LLC now owns 4,139 shares of the company’s stock valued at $1,404,000 after buying an additional 1,627 shares during the last quarter. Quantitative Investment Management LLC raised its stake in Mettler-Toledo International by 20.0% in the fourth quarter. Quantitative Investment Management LLC now owns 4,800 shares of the company’s stock valued at $1,627,000 after buying an additional 800 shares during the last quarter. Stevens Capital Management LP bought a new stake in Mettler-Toledo International during the fourth quarter valued at about $1,677,000. Finally, Korea Investment CORP raised its stake in Mettler-Toledo International by 52.3% in the fourth quarter. Korea Investment CORP now owns 6,700 shares of the company’s stock valued at $2,272,000 after buying an additional 2,300 shares during the last quarter.
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company is a provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a provider of analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes.
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