Mettler-Toledo International (NYSE:MTD) Reaches New 52-Week High – What’s Next?

Mettler-Toledo International, Inc. (NYSE:MTD) reached a new 52-week high on Thursday. The company traded as high as $1,541.02 and last traded at $1,530.7150, with a volume of 22219 shares changing hands. The stock had previously closed at $1,492.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. 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 target on the stock. Weiss Ratings upgraded Mettler-Toledo International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus upped 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, Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1,446.36.

Mettler-Toledo International Stock Down 0.5%

The business’s 50 day moving average price is $1,388.40 and its 200-day moving average price is $1,279.29. 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 company has a market cap of $30.29 billion, a P/E ratio of 34.02, a PEG ratio of 3.04 and a beta of 1.22.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, topping the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $10.09 EPS. Mettler-Toledo International’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas P. Salice sold 417 shares of Mettler-Toledo International stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total value of $600,650.97. Following the completion of the transaction, the director directly owned 292 shares of the company’s stock, valued at $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick Kaltenbach sold 942 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 4,480 shares in the company, valued at approximately $6,384,000. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,254 shares of company stock worth $6,092,712 in the last three months. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Mettler-Toledo International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTD. XXEC Inc. acquired a new position in shares of Mettler-Toledo International during the second quarter worth approximately $77,044,000. BlackRock Inc. acquired a new stake in shares of Mettler-Toledo International in the second quarter valued at approximately $2,404,713,000. Capital International Investors raised its position in Mettler-Toledo International by 12.7% in the 4th quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier’s stock worth $1,351,064,000 after purchasing an additional 109,508 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Mettler-Toledo International by 0.5% in 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. Finally, Geode Capital Management LLC lifted its holdings in Mettler-Toledo International by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier’s stock worth $830,879,000 after buying an additional 14,106 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.

The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.