Zacks Investment Research downgraded shares of Mettler-Toledo International, Inc. (NYSE:MTD) from a buy rating to a hold rating in a report issued 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 subject of several other reports. BidaskClub raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research note on Monday, August 14th. Goldman Sachs Group Inc reaffirmed a buy rating and set a $690.00 price objective on shares of Mettler-Toledo International in a research note on Tuesday, September 26th. Jefferies Group LLC reaffirmed a hold rating and set a $550.00 price objective on shares of Mettler-Toledo International in a research note on Thursday, July 27th. Morgan Stanley reaffirmed an equal weight rating and set a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a research note on Saturday, July 22nd. Finally, Bank of America Corporation increased 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $621.57.
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, topping the consensus estimate of $4.32 by $0.04. The company had revenue of $698.80 million during the quarter, compared to analyst estimates of $685.56 million. Mettler-Toledo International had a net margin of 16.44% and a return on equity of 96.81%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.89 earnings per share. sell-side analysts anticipate that Mettler-Toledo International will post 17.52 earnings per share for the current fiscal year.
In other Mettler-Toledo International news, insider William P. Donnelly sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $630.02, for a total value of $6,300,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Francis purchased 160 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was acquired at an average price of $627.91 per share, for a total transaction of $100,465.60. Following the completion of the transaction, the director now directly owns 254 shares of the company’s stock, valued at approximately $159,489.14. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 40,638 shares of company stock worth $25,510,914. Corporate insiders own 5.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in MTD. Teachers Advisors LLC raised its position in shares of Mettler-Toledo International by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 38,755 shares of the medical instruments supplier’s stock valued at $18,560,000 after purchasing an additional 1,058 shares during the period. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 3,555 shares in the last quarter. HighTower Advisors LLC grew its stake 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 acquiring an additional 284 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake 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 acquiring an additional 343 shares in the last quarter. Finally, Atria Investments LLC grew its stake 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 acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.
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About Mettler-Toledo International
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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