Mettler-Toledo International Inc. (MTD) Shares Gap Up to $385.04
Shares of Mettler-Toledo International Inc. (NYSE:MTD) gapped up before the market opened on Wednesday . The stock had previously closed at $383.79, but opened at $385.04. Mettler-Toledo International shares last traded at $389.46, with a volume of 25,570 shares.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $431.00 target price on the stock in a report on Friday. 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, Citigroup Inc. cut shares of Mettler-Toledo International from a “buy” rating to a “neutral” rating and increased their target price for the stock from $382.00 to $400.00 in a report on Thursday, June 23rd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $353.86.
The stock’s 50-day moving average price is $374.84 and its 200 day moving average price is $347.90. The company has a market capitalization of $10.36 billion and a PE ratio of 30.40.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, May 5th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. During the same quarter in the previous year, the business posted $2.25 EPS. The company earned $539.70 million during the quarter, compared to analyst estimates of $534.05 million. The company’s revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Mettler-Toledo International Inc. will post $14.32 earnings per share for the current fiscal year.
In other news, Director Wah-Hui Chu sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $384.00, for a total value of $384,000.00. Following the sale, the director now owns 3,684 shares in the company, valued at $1,414,656. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Oliver A. Filliol sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $365.74, for a total transaction 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 approximately $7,307,119.46. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of MTD. Vanguard Group Inc. boosted 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 valued at $692,990,000 after buying an additional 36,619 shares during the period. Janus Capital Management boosted 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 valued at $149,167,000 after buying an additional 58,990 shares during the period. Principal Financial Group Inc. boosted its position in shares of Mettler-Toledo International by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 88,024 shares of the company’s stock valued at $29,851,000 after buying an additional 1,796 shares during the period. Employees Retirement System of Texas boosted its position in shares of Mettler-Toledo International by 4.9% in the fourth quarter. Employees Retirement System of Texas now owns 86,400 shares of the company’s stock valued at $29,301,000 after buying an additional 4,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Mettler-Toledo International by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 69,069 shares of the company’s stock valued at $23,426,000 after buying an additional 2,409 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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