Zacks Investment Research lowered shares of Mettler-Toledo International, Inc. (NYSE:MTD) from a buy rating to a hold rating in a research note released on Tuesday, November 7th.
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.”
MTD has been the topic of a number of other research reports. BidaskClub upgraded shares of Mettler-Toledo International from a hold rating to a buy rating in a research report on Monday, August 14th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $690.00 price target on shares of Mettler-Toledo International in a report on Tuesday, September 26th. Jefferies Group LLC restated a hold rating and set a $550.00 target price on shares of Mettler-Toledo International in a report on Thursday, July 27th. Morgan Stanley restated an equal weight rating and set a $565.00 target price (up previously from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Finally, Bank of America Corporation lifted their price target on shares of Mettler-Toledo International from $640.00 to $710.00 and gave the stock a buy rating in a research note on Monday, October 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $621.57.
Shares of Mettler-Toledo International (NYSE MTD) traded up $0.42 during trading on Tuesday, hitting $630.92. The stock had a trading volume of 97,300 shares, compared to its average volume of 158,460. Mettler-Toledo International has a fifty-two week low of $407.87 and a fifty-two week high of $694.48. The firm has a market cap of $16,140.00, a PE ratio of 37.33, a P/E/G ratio of 2.88 and a beta of 1.13. The company has a current ratio of 1.51, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 2nd. The medical instruments supplier reported $4.36 earnings per share (EPS) 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 analyst estimates of $685.56 million. During the same quarter in the previous year, the company earned $3.89 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. research analysts forecast that Mettler-Toledo International will post 17.52 earnings per share for the current fiscal year.
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In other Mettler-Toledo International news, insider Oliver A. Filliol sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $631.51, for a total value of $9,472,650.00. Following the transaction, the insider now owns 31,279 shares in the company, valued at approximately $19,753,001.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William P. Donnelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $632.14, for a total transaction of $3,160,700.00. Following the completion of the sale, the executive vice president now directly owns 6,000 shares of the company’s stock, valued at $3,792,840. The disclosure for this sale can be found here. Insiders sold a total of 50,291 shares of company stock worth $31,204,071 over the last quarter. Insiders own 5.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its position in Mettler-Toledo International by 0.5% in the second quarter. State of Alaska Department of Revenue now owns 1,087 shares of the medical instruments supplier’s stock worth $639,000 after acquiring an additional 5 shares in the last quarter. First Personal Financial Services boosted its holdings in shares of Mettler-Toledo International by 2.8% during the 2nd quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock worth $109,000 after buying an additional 5 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Mettler-Toledo International by 1.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 558 shares of the medical instruments supplier’s stock worth $328,000 after buying an additional 7 shares during the period. Advisor Partners LLC boosted its holdings in shares of Mettler-Toledo International by 3.5% during the 2nd quarter. Advisor Partners LLC now owns 468 shares of the medical instruments supplier’s stock worth $275,000 after buying an additional 16 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of Mettler-Toledo International by 1.4% during the 2nd quarter. Alps Advisors Inc. now owns 1,225 shares of the medical instruments supplier’s stock worth $721,000 after buying an additional 17 shares during the period. 93.38% of the stock is owned by institutional investors.
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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