Mettler-Toledo International, Inc. (NYSE:MTD)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a note issued to investors on Saturday. They currently have a $565.00 price target on the medical instruments supplier’s stock, up from their previous price target of $533.00. Morgan Stanley’s price target would indicate a potential downside of 7.90% from the company’s previous close.
Several other analysts have also issued reports on the stock. BidaskClub raised shares of Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Cleveland Research raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 19th. Bank of America Corporation boosted their price target on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $538.00 price target on the stock in a research report on Wednesday, April 12th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $550.00 price target on shares of Mettler-Toledo International in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Mettler-Toledo International currently has a consensus rating of “Buy” and an average target price of $523.43.
Mettler-Toledo International (MTD) opened at 613.49 on Friday. Mettler-Toledo International has a 12 month low of $380.35 and a 12 month high of $616.40. The firm’s 50 day moving average is $594.37 and its 200-day moving average is $511.84. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 40.03 and a beta of 1.14.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 4th. The medical instruments supplier reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.26. Mettler-Toledo International had a net margin of 16.04% and a return on equity of 90.28%. The company had revenue of $594.57 million for the quarter, compared to analyst estimates of $571.30 million. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that Mettler-Toledo International will post $17.26 EPS for the current year.
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In other Mettler-Toledo International news, Director Robert F. Spoerry sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $545.15, for a total value of $2,180,600.00. Following the completion of the transaction, the director now owns 9,287 shares of the company’s stock, valued at approximately $5,062,808.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shawn Vadala sold 700 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $543.64, for a total transaction of $380,548.00. Following the completion of the transaction, the chief financial officer now directly owns 6,225 shares of the company’s stock, valued at approximately $3,384,159. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,046 shares of company stock valued at $28,826,702. 5.20% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new stake in shares of Mettler-Toledo International during the first quarter worth about $102,000. YorkBridge Wealth Partners LLC raised its stake in Mettler-Toledo International by 11.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 222 shares of the medical instruments supplier’s stock worth $115,000 after buying an additional 22 shares in the last quarter. TLP Group LLC purchased a new stake in Mettler-Toledo International during the first quarter worth approximately $144,000. Murphy Capital Management Inc. purchased a new stake in Mettler-Toledo International during the second quarter worth approximately $235,000. Finally, Penserra Capital Management LLC raised its stake in Mettler-Toledo International by 9.5% in the first quarter. Penserra Capital Management LLC now owns 414 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 36 shares in the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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