Mettler-Toledo International (NYSE:MTD) Sets New 52-Week High – Should You Buy?

Mettler-Toledo International, Inc. (NYSE:MTD) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $1,730.33 and last traded at $1,719.0770, with a volume of 10,536 shares. The stock had previously closed at $1,698.04.

Wall Street Analyst Weigh In

Several brokerages recently commented on MTD. Weiss Ratings upgraded shares of Mettler-Toledo International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. UBS Group started coverage on shares of Mettler-Toledo International in a research report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 target price for the company. Rothschild & Co Redburn initiated coverage on shares of Mettler-Toledo International in a report on Wednesday, September 2nd. They set a “sell” rating and a $1,200.00 price target for the company. Stifel Nicolaus raised their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada initiated coverage on Mettler-Toledo International in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Mettler-Toledo International presently has an average rating of “Hold” and an average price target of $1,469.15.

Mettler-Toledo International Stock Up 0.9%

The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The stock has a market capitalization of $34.33 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16. The firm has a 50 day moving average of $1,506.39 and a 200-day moving average of $1,342.11.

Insider Buying and Selling at Mettler-Toledo International

In other news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the sale, the chief executive officer owned 4,480 shares of the company’s stock, valued at approximately $6,384,000. This trade represents a 17.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service increased its holdings in Mettler-Toledo International by 7.9% in the 2nd quarter. National Pension Service now owns 39,696 shares of the medical instruments supplier’s stock valued at $50,712,000 after buying an additional 2,916 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Mettler-Toledo International in the 1st quarter valued at $26,372,000. Bank of America Corp DE acquired a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $240,817,000. Corient Private Wealth LP raised its stake in shares of Mettler-Toledo International by 421.7% in the 2nd quarter. Corient Private Wealth LP now owns 26,147 shares of the medical instruments supplier’s stock valued at $33,402,000 after buying an additional 21,135 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $1,283,000. 95.07% of the stock is owned by institutional investors.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc (NYSE: MTD) develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company’s laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.