Mettler-Toledo International Inc. (MTD) Sets New 12-Month High at $391.24
Shares of Mettler-Toledo International Inc. (NYSE:MTD) hit a new 52-week high on Wednesday . The stock traded as high as $391.24 and last traded at $390.11, with a volume of 56,315 shares. The stock had previously closed at $387.98.
Several brokerages have recently weighed in on MTD. Morgan Stanley restated a “hold” rating on shares of Mettler-Toledo International in a research report on Sunday, May 8th. Robert W. Baird restated a “hold” rating on shares of Mettler-Toledo International in a research report on Friday, May 6th. Zacks Investment Research upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $425.00 price objective for the company in a research report on Thursday, July 14th. Finally, Citigroup Inc. downgraded shares of Mettler-Toledo International from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $382.00 to $400.00 in a research report on Thursday, June 23rd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Mettler-Toledo International has an average rating of “Hold” and a consensus price target of $353.86.
The firm has a 50-day moving average price of $375.39 and a 200-day moving average price of $349.23. The company has a market cap of $10.46 billion and a price-to-earnings ratio of 30.71.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, May 5th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.02. The business earned $539.70 million during the quarter, compared to analyst estimates of $534.05 million. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 earnings per share. Equities analysts predict that Mettler-Toledo International Inc. will post $14.32 earnings per share for the current year.
In other news, CEO Oliver A. Filliol sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $365.74, for a total value of $5,486,100.00. Following the completion of the sale, the chief executive officer now directly owns 19,979 shares of the company’s stock, valued at $7,307,119.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William P. Donnelly sold 10,783 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $369.85, for a total value of $3,988,092.55. Following the completion of the sale, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at $1,109,550. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in MTD. Janus Capital Management raised its position in shares of Mettler-Toledo International by 12.7% in the third quarter. Janus Capital Management now owns 523,872 shares of the company’s stock worth $149,167,000 after buying an additional 58,990 shares during the period. Vanguard Group Inc. raised its position in shares of Mettler-Toledo International by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,043,433 shares of the company’s stock worth $692,990,000 after buying an additional 36,619 shares during the period. Quantitative Investment Management LLC raised its position in shares of Mettler-Toledo International by 20.0% in the fourth quarter. Quantitative Investment Management LLC now owns 4,800 shares of the company’s stock worth $1,627,000 after buying an additional 800 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Mettler-Toledo International by 0.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 8,058 shares of the company’s stock worth $2,733,000 after buying an additional 40 shares during the period. Finally, Morgan Stanley raised its position in shares of Mettler-Toledo International by 59.3% in the fourth quarter. Morgan Stanley now owns 53,387 shares of the company’s stock worth $18,105,000 after buying an additional 19,871 shares during the period.
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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