Mettler-Toledo International Inc. (MTD) Shares Gap Up to $379.43
Mettler-Toledo International Inc. (NYSE:MTD) shares gapped up before the market opened on Thursday . The stock had previously closed at $377.73, but opened at $379.43. Mettler-Toledo International shares last traded at $384.84, with a volume of 50,592 shares.
Several research analysts have recently commented on the company. Morgan Stanley reiterated a “hold” rating on shares of Mettler-Toledo International in a report on Sunday, May 8th. Robert W. Baird reiterated a “hold” rating on shares of Mettler-Toledo International in a report on Friday, May 6th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $425.00 price target on the stock in a report on Thursday. Citigroup Inc. lowered 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 report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. lifted their price target on Mettler-Toledo International to $348.00 in a report on Wednesday, March 23rd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $353.00.
The stock has a market capitalization of $10.30 billion and a P/E ratio of 30.25. The firm’s 50-day moving average is $373.18 and its 200-day moving average is $346.27.
Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, May 5th. The company reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.02. The firm earned $539.70 million during the quarter, compared to analyst estimates of $534.05 million. During the same period last year, the company posted $2.25 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International Inc. will post $14.31 earnings per share for the current year.
In other news, Director Wah-Hui Chu sold 1,000 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $384.00, for a total value of $384,000.00. Following the sale, the director now directly owns 3,684 shares in the company, valued at $1,414,656. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Oliver A. Filliol sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 19,979 shares in the company, valued at $7,307,119.46. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of MTD. Janus Capital Management increased its stake 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 valued at $149,167,000 after buying an additional 58,990 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $692,990,000 after buying an additional 36,619 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Mettler-Toledo International by 127.7% in the fourth quarter. Schroder Investment Management Group now owns 43,215 shares of the company’s stock valued at $14,655,000 after buying an additional 24,232 shares in the last quarter. Morgan Stanley increased its stake 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 valued at $18,105,000 after buying an additional 19,871 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Mettler-Toledo International by 57.9% in the fourth quarter. Norinchukin Bank The now owns 22,893 shares of the company’s stock valued at $7,764,000 after buying an additional 8,393 shares in 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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