Zacks Investment Research downgraded shares of Mettler-Toledo International, Inc. (NYSE:MTD) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. The company reported better-than-expected third-quarter 2017 results, surpassing the Zacks Consensus Estimate on earnings and revenues. The results were driven by strong growth across Laboratory and Industrial segments in all regions. The company’s growth initiatives – Field Turbo investments, marketing initiatives, Spinnaker sales and new product launches – continued to deliver positive results. We remain positive about Mettler-Toledo’s leading market position, focus on product development and cost reduction, sales and marketing efforts and operational excellence programs. The company is expected to benefit from strong growth prospects in product inspection and services. However, seasonality, volatility in emerging market growth, foreign exchange risk and business concentration in China remain overhangs. Year to date, the stock has outperformed the industry it belongs.”
Several other equities analysts have also weighed in on MTD. BidaskClub upgraded Mettler-Toledo International from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Wells Fargo & Company upgraded Mettler-Toledo International from a market perform rating to an outperform rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an equal weight rating and issued a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a research note on Saturday, July 22nd. Jefferies Group LLC reiterated a hold rating and issued a $550.00 price objective on shares of Mettler-Toledo International in a research note on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $690.00 price objective on shares of Mettler-Toledo International in a research note on Tuesday, September 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $621.57.
Mettler-Toledo International (MTD) traded down $4.16 during midday trading on Tuesday, reaching $622.66. The company’s stock had a trading volume of 167,800 shares, compared to its average volume of 158,863. Mettler-Toledo International has a one year low of $407.87 and a one year high of $694.48. The company has a current ratio of 1.51, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $16,033.50, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.86 and a beta of 1.13.
Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, November 2nd. The medical instruments supplier reported $4.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $685.56 million. During the same period last year, the company earned $3.89 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. analysts forecast that Mettler-Toledo International will post 17.53 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by BBNS and is the sole property of of BBNS. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://baseballnewssource.com/markets/mettler-toledo-international-inc-mtd-cut-to-hold-at-zacks-investment-research/1764571.html.
In related news, Director Michael A. Kelly sold 3,384 shares of Mettler-Toledo International stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $638.24, for a total transaction of $2,159,804.16. Following the sale, the director now directly owns 4,762 shares of the company’s stock, valued at $3,039,298.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Caratsch sold 3,000 shares of Mettler-Toledo International stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $582.03, for a total value of $1,746,090.00. Following the sale, the insider now directly owns 2,270 shares in the company, valued at $1,321,208.10. The disclosure for this sale can be found here. Insiders sold 23,565 shares of company stock worth $14,166,876 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in MTD. Teachers Advisors LLC grew its position in Mettler-Toledo International by 2.8% during the first quarter. Teachers Advisors LLC now owns 38,755 shares of the medical instruments supplier’s stock worth $18,560,000 after buying an additional 1,058 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mettler-Toledo International by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 90,636 shares of the medical instruments supplier’s stock valued at $43,406,000 after purchasing an additional 3,555 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Mettler-Toledo International by 24.5% during the first quarter. HighTower Advisors LLC now owns 1,444 shares of the medical instruments supplier’s stock valued at $687,000 after purchasing an additional 284 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Mettler-Toledo International by 8.4% during the second quarter. Xact Kapitalforvaltning AB now owns 4,437 shares of the medical instruments supplier’s stock valued at $2,611,000 after purchasing an additional 343 shares in the last quarter. Finally, Atria Investments LLC boosted its holdings in Mettler-Toledo International by 19.3% during the second quarter. Atria Investments LLC now owns 1,359 shares of the medical instruments supplier’s stock valued at $800,000 after purchasing an additional 220 shares in the last quarter. 93.16% of the stock is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mettler-Toledo International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mettler-Toledo International Inc. and related companies with our FREE daily email newsletter.