Mettler-Toledo International (NYSE:MTD) Hits New 12-Month High – Here’s What Happened

Mettler-Toledo International, Inc. (NYSE:MTD) hit a new 52-week high during trading on Tuesday. The stock traded as high as $1,587.74 and last traded at $1,564.2610, with a volume of 9,935 shares. The stock had previously closed at $1,563.01.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTD. Wells Fargo & Company raised their price target on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Jefferies Financial Group upped their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Rothschild & Co Redburn initiated coverage on shares of Mettler-Toledo International in a research report on Wednesday, September 2nd. They set a “sell” rating and a $1,200.00 price objective for the company. UBS Group began coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $1,460.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of 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. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,459.54.

Mettler-Toledo International Stock Up 0.9%

The firm has a 50-day simple moving average of $1,427.15 and a 200 day simple moving average of $1,304.23. The stock has a market capitalization of $31.62 billion, a P/E ratio of 35.41, a P/E/G ratio of 3.10 and a beta of 1.19. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.78 by $0.68. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $10.09 earnings per share. On average, equities research analysts forecast that Mettler-Toledo International, Inc. will post 47.37 EPS for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, insider Gerry Keller sold 240 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the sale, the insider directly owned 259 shares of the company’s stock, valued at $369,629.26. The trade was a 48.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas P. Salice sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the sale, the director directly owned 292 shares in the company, valued at $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,254 shares of company stock worth $6,092,712 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Mettler-Toledo International in the second quarter worth $2,404,713,000. T. Rowe Price Investment Management Inc. raised its position in Mettler-Toledo International by 0.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier’s stock worth $964,174,000 after purchasing an additional 3,157 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Mettler-Toledo International during the 2nd quarter worth $762,553,000. Wellington Management Group LLP raised its position in Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock worth $586,459,000 after purchasing an additional 413,547 shares during the last quarter. Finally, Amundi lifted its holdings in Mettler-Toledo International by 40.7% during the 2nd quarter. Amundi now owns 240,640 shares of the medical instruments supplier’s stock worth $307,420,000 after buying an additional 69,620 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company’s solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.