Mettler-Toledo International Inc. (MTD) Sees Strong Trading Volume
Mettler-Toledo International Inc. (NYSE:MTD) saw unusually-high trading volume on Friday . Approximately 202,985 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 148,815 shares.The stock last traded at $410.50 and had previously closed at $405.02.
MTD has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $431.00 price objective on the stock in a research report on Friday, July 22nd. Morgan Stanley reissued 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 note on Friday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Mettler-Toledo International from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Citigroup Inc. downgraded shares of Mettler-Toledo International from a “buy” rating to a “neutral” rating and upped their target price for the stock from $382.00 to $400.00 in a research note on Thursday, June 23rd. Nine research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $359.63.
The firm has a market cap of $10.85 billion and a PE ratio of 31.62. The stock’s 50-day moving average price is $395.65 and its 200-day moving average price is $363.42.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.09. The business had revenue of $608.28 million for the quarter, compared to analyst estimates of $598.20 million. During the same quarter in the previous year, the firm posted $2.80 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that Mettler-Toledo International Inc. will post $14.47 EPS for the current year.
In other Mettler-Toledo International news, Director Wah-Hui Chu sold 1,000 shares of Mettler-Toledo International stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $384.00, for a total transaction of $384,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas P. Salice sold 460 shares of Mettler-Toledo International stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $414.03, for a total transaction of $190,453.80. Following the transaction, the director now directly owns 32,578 shares in the company, valued at $13,488,269.34. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Mettler-Toledo International stock. Morgan Stanley boosted its position in Mettler-Toledo International Inc. (NYSE:MTD) by 59.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,387 shares of the company’s stock after buying an additional 19,871 shares during the period. Morgan Stanley owned about 0.20% of Mettler-Toledo International worth $18,105,000 at the end of the most recent reporting 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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