Mettler-Toledo International Inc. (MTD) Shares Gap Up to $366.75
Mettler-Toledo International Inc. (NYSE:MTD) shares gapped up before the market opened on Friday . The stock had previously closed at $363.80, but opened at $366.75. Mettler-Toledo International shares last traded at $372.16, with a volume of 40,338 shares changing hands.
A number of brokerages have recently commented on MTD. Citigroup Inc. lowered Mettler-Toledo International from a “buy” rating to a “neutral” rating and increased their price objective for the company from $382.00 to $400.00 in a report on Thursday, June 23rd. Zacks Investment Research lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Morgan Stanley reissued a “hold” rating on shares of Mettler-Toledo International in a report on Sunday, May 8th. Robert W. Baird reissued a “hold” rating on shares of Mettler-Toledo International in a report on Friday, May 6th. Finally, Goldman Sachs Group Inc. raised their target price on Mettler-Toledo International to $348.00 in a report on Wednesday, March 23rd. Eight equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $349.29.
The stock has a market cap of $9.98 billion and a P/E ratio of 29.30. The firm has a 50 day moving average of $371.30 and a 200 day moving average of $344.85.
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 consensus estimate of $2.44 by $0.02. The business earned $539.70 million during the quarter, compared to the consensus estimate of $534.05 million. Mettler-Toledo International’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 EPS. On average, equities research analysts expect that Mettler-Toledo International Inc. will post $14.31 earnings per share for the current fiscal year.
In other Mettler-Toledo International news, CEO Oliver A. Filliol sold 15,000 shares of the company’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 sale, the chief executive officer now owns 19,979 shares in the company, valued at $7,307,119.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas P. Salice sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $361.11, for a total value of $1,083,330.00. Following the completion of the sale, the director now owns 37,078 shares in the company, valued at approximately $13,389,236.58. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in MTD. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in 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 valued at $1,260,000 after buying an additional 210 shares in the last quarter. Korea Investment CORP increased its position 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. Profund Advisors LLC increased its position 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. Stevens Capital Management LP purchased a new position in Mettler-Toledo International during the fourth quarter valued at approximately $1,677,000. Finally, Great West Life Assurance Co. Can increased its position in Mettler-Toledo International by 11.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 17,552 shares of the company’s stock valued at $5,956,000 after buying an additional 1,828 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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