Mettler-Toledo International Inc. (MTD) Sees Strong Trading Volume
Shares of Mettler-Toledo International Inc. (NYSE:MTD) saw unusually-strong 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.
Several brokerages have recently weighed in on MTD. Zacks Investment Research lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Citigroup Inc. lowered Mettler-Toledo International from a “buy” rating to a “neutral” rating and upped their price objective for the company from $382.00 to $400.00 in a report on Thursday, June 23rd. Robert W. Baird restated a “hold” rating on shares of Mettler-Toledo International in a report on Friday, May 6th. JPMorgan Chase & Co. upped their price objective 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, Morgan Stanley restated a “hold” rating on shares of Mettler-Toledo International in a report on Sunday, May 8th. Nine investment analysts have rated the stock with a hold rating, Mettler-Toledo International currently has an average rating of “Hold” and a consensus target price of $359.63.
The company’s 50 day moving average is $394.46 and its 200 day moving average is $362.62. The company has a market capitalization of $10.85 billion and a price-to-earnings ratio of 31.62.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, July 28th. The company reported $3.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.13 by $0.09. During the same period in the prior year, the business earned $2.80 earnings per share. The business had revenue of $608.28 million for the quarter, compared to analyst estimates of $598.20 million. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International Inc. will post $14.47 EPS for the current year.
In related news, insider Waldemar Rauch sold 3,042 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $410.56, for a total transaction of $1,248,923.52. Following the completion of the sale, the insider now directly owns 14,938 shares of the company’s stock, valued at approximately $6,132,945.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William P. Donnelly sold 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $403.23, for a total value of $4,032,300.00. Following the sale, the insider now directly owns 4,800 shares of the company’s stock, valued at $1,935,504. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Mettler-Toledo International stock. KBC Group NV raised its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 34.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,241 shares of the company’s stock after buying an additional 3,110 shares during the period. KBC Group NV’s holdings in Mettler-Toledo International were worth $4,152,000 at the end of the most recent 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.