Mettler-Toledo International (MTD) Announces Quarterly Earnings Results

Mettler-Toledo International (NYSE:MTD) issued its quarterly earnings results on Thursday. The medical instruments supplier reported $5.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.99 by $0.13, Briefing.com reports. Mettler-Toledo International had a return on equity of 90.80% and a net margin of 13.52%. The company had revenue of $734.85 million for the quarter, compared to the consensus estimate of $738.23 million. During the same quarter in the prior year, the business earned $4.36 EPS. Mettler-Toledo International’s revenue was up 5.2% on a year-over-year basis.

Shares of MTD traded up $12.72 during mid-day trading on Friday, reaching $608.03. The company’s stock had a trading volume of 446,389 shares, compared to its average volume of 181,918. Mettler-Toledo International has a 12-month low of $521.79 and a 12-month high of $697.26. The company has a market cap of $14.94 billion, a P/E ratio of 34.61, a PEG ratio of 2.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.06 and a current ratio of 1.46.

In other news, Director Robert F. Spoerry sold 1,836 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $600.00, for a total value of $1,101,600.00. Following the transaction, the director now owns 7,423 shares in the company, valued at approximately $4,453,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William P. Donnelly sold 1,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $571.50, for a total value of $571,500.00. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $1,143,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,858 shares of company stock worth $8,681,504. Company insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in Mettler-Toledo International by 47.9% during the 2nd quarter. Morgan Stanley now owns 74,688 shares of the medical instruments supplier’s stock worth $43,217,000 after buying an additional 24,177 shares during the last quarter. Trust Co. of Oklahoma purchased a new position in Mettler-Toledo International during the 3rd quarter worth approximately $853,000. Bessemer Group Inc. grew its stake in Mettler-Toledo International by 24.7% during the 2nd quarter. Bessemer Group Inc. now owns 3,055 shares of the medical instruments supplier’s stock worth $1,767,000 after buying an additional 605 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Mettler-Toledo International by 65.4% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 52,446 shares of the medical instruments supplier’s stock worth $30,347,000 after buying an additional 20,732 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Mettler-Toledo International by 3.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 95,465 shares of the medical instruments supplier’s stock worth $55,239,000 after buying an additional 3,525 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on Mettler-Toledo International from $540.00 to $529.00 and set an “equal weight” rating on the stock in a report on Friday, July 27th. Zacks Investment Research upgraded Mettler-Toledo International from a “sell” rating to a “hold” rating in a report on Monday, July 30th. JPMorgan Chase & Co. upped their price target on Mettler-Toledo International from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, UBS Group assumed coverage on Mettler-Toledo International in a report on Tuesday, October 9th. They set a “neutral” rating and a $625.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Mettler-Toledo International currently has a consensus rating of “Hold” and a consensus price target of $624.00.

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About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.

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Earnings History for Mettler-Toledo International (NYSE:MTD)

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