Equities research analysts at Barclays initiated coverage on shares of Mettler-Toledo International (NYSE:MTD) in a research note issued on Thursday, January 4th, Marketbeat reports. The firm set an “equal weight” rating and a $625.00 price target on the medical instruments supplier’s stock. Barclays’ price objective would suggest a potential downside of 2.23% from the company’s previous close.
A number of other research firms have also recently commented on MTD. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Evercore ISI initiated coverage on Mettler-Toledo International in a research note on Wednesday, January 3rd. They issued an “in-line” rating and a $625.00 price target for the company. Goldman Sachs Group reiterated a “buy” rating and issued a $690.00 price target on shares of Mettler-Toledo International in a research note on Tuesday, September 26th. Morgan Stanley increased their price target on Mettler-Toledo International from $535.00 to $545.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird raised their price objective on Mettler-Toledo International from $605.00 to $675.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $622.33.
Shares of Mettler-Toledo International (NYSE:MTD) traded down $6.93 during mid-day trading on Thursday, reaching $639.26. The company had a trading volume of 161,700 shares, compared to its average volume of 174,012. Mettler-Toledo International has a 12 month low of $408.97 and a 12 month high of $694.48. The company has a market capitalization of $16,350.00, a P/E ratio of 38.79, a P/E/G ratio of 2.56 and a beta of 1.09. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.51.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported $4.36 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.04. Mettler-Toledo International had a return on equity of 96.81% and a net margin of 16.44%. The company had revenue of $698.80 million for the quarter, compared to the consensus estimate of $685.56 million. During the same quarter last year, the company earned $3.89 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts predict that Mettler-Toledo International will post 17.52 EPS for the current fiscal year.
In related news, insider Simon Kirk sold 4,726 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $629.01, for a total transaction of $2,972,701.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard D. Francis bought 160 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average cost of $627.91 per share, for a total transaction of $100,465.60. Following the completion of the acquisition, the director now owns 254 shares of the company’s stock, valued at $159,489.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 39,969 shares of company stock worth $25,242,999. 5.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System grew its holdings in Mettler-Toledo International by 2.0% in the second quarter. California Public Employees Retirement System now owns 71,000 shares of the medical instruments supplier’s stock valued at $41,786,000 after purchasing an additional 1,400 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Mettler-Toledo International by 90.5% in the second quarter. Riverhead Capital Management LLC now owns 1,800 shares of the medical instruments supplier’s stock worth $1,060,000 after acquiring an additional 855 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Mettler-Toledo International by 20.2% in the third quarter. Janus Henderson Group PLC now owns 243,920 shares of the medical instruments supplier’s stock worth $152,732,000 after acquiring an additional 40,993 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Mettler-Toledo International by 2.3% in the second quarter. Principal Financial Group Inc. now owns 42,546 shares of the medical instruments supplier’s stock worth $25,040,000 after acquiring an additional 974 shares during the last quarter. Finally, Page Arthur B acquired a new stake in shares of Mettler-Toledo International in the third quarter worth approximately $848,000. 91.57% of the stock is currently owned by institutional investors.
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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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