Mettler-Toledo International Inc. (NYSE:MTD) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Mettler-Toledo International Inc. (NYSE:MTD) have earned an average rating of “Hold” from the nine brokerages that are covering the firm. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $377.17.
Several analysts have commented on the company. Bank of America Corp. upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $404.33 to $470.00 in a report on Wednesday, August 31st. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. JPMorgan Chase & Co. lifted their price target on Mettler-Toledo International from $350.00 to $400.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Citigroup Inc. cut Mettler-Toledo International from a “buy” rating to a “neutral” rating and lifted their price target for the company from $382.00 to $400.00 in a report on Thursday, June 23rd.
Shares of Mettler-Toledo International (NYSE:MTD) traded down 0.60% during mid-day trading on Friday, reaching $408.69. 189,057 shares of the company traded hands. Mettler-Toledo International has a 52-week low of $275.30 and a 52-week high of $416.75. The firm’s 50 day moving average price is $402.22 and its 200-day moving average price is $374.12. The company has a market capitalization of $10.83 billion, a P/E ratio of 31.56 and a beta of 1.22.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.13 by $0.09. The company earned $608.28 million during the quarter, compared to analysts’ expectations of $598.20 million. Mettler-Toledo International had a return on equity of 68.23% and a net margin of 14.74%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 EPS. Equities analysts predict that Mettler-Toledo International will post $14.45 earnings per share for the current fiscal year.
In related news, insider Thomas Caratsch sold 700 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $412.50, for a total transaction of $288,750.00. Following the transaction, the insider now directly owns 1,470 shares of the company’s stock, valued at approximately $606,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Oliver A. Filliol sold 10,800 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $398.42, for a total value of $4,302,936.00. Following the transaction, the insider now directly owns 20,988 shares in the company, valued at $8,362,038.96. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Mettler-Toledo International during the fourth quarter valued at approximately $82,849,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Mettler-Toledo International by 11.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 8,487 shares of the company’s stock valued at $2,926,000 after buying an additional 880 shares during the period. Aperio Group LLC raised its position in Mettler-Toledo International by 17.9% in the first quarter. Aperio Group LLC now owns 10,840 shares of the company’s stock valued at $3,737,000 after buying an additional 1,642 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Mettler-Toledo International by 6.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 17,170 shares of the company’s stock valued at $5,920,000 after buying an additional 1,060 shares during the period. Finally, Virginia Retirement System bought a new position in Mettler-Toledo International during the first quarter valued at approximately $15,805,000. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
About Mettler-Toledo International
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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