Mettler-Toledo International Inc. (MTD) Sees Strong Trading Volume
Mettler-Toledo International Inc. (NYSE:MTD) saw unusually-high trading volume on Friday . Approximately 228,259 shares were traded during mid-day trading, an increase of 32% from the previous session’s volume of 173,159 shares.The stock last traded at $404.61 and had previously closed at $404.72.
MTD has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Citigroup Inc. lowered shares of Mettler-Toledo International from a “buy” rating to a “neutral” rating and raised their price objective for the company from $382.00 to $400.00 in a research report on Thursday, June 23rd. Bank of America Corp. raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $404.33 to $470.00 in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating on shares of Mettler-Toledo International in a research report on Friday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mettler-Toledo International from $350.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $378.38.
The company’s 50-day moving average is $399.25 and its 200 day moving average is $366.52. The company has a market cap of $10.64 billion and a P/E ratio of 31.01.
Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, July 28th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.13 by $0.09. During the same quarter in the previous year, the firm posted $2.80 earnings per share. The company had revenue of $608.28 million for the quarter, compared to analyst estimates of $598.20 million. Mettler-Toledo International’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Mettler-Toledo International Inc. will post $14.45 EPS for the current year.
In related news, Director Wah-Hui Chu sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,684 shares in the company, valued at approximately $1,414,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian Magloth sold 1,285 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $406.40, for a total value of $522,224.00. Following the completion of the transaction, the insider now owns 785 shares of the company’s stock, valued at $319,024. The disclosure for this sale can be found here.
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.