Mettler-Toledo International Inc. (MTD) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Mettler-Toledo is the world’s largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. The Company focuses on the high value-added segments of the weighing instruments market by providing solutions for specific applications. The Company also manufactures and sells certain related laboratory measurement instruments, with one of the top three market positions worldwide in titrators, thermal analysis systems, pH meters and lab reactors. “
A number of other analysts have also recently commented on MTD. JPMorgan Chase & Co. upped their price target on shares of Mettler-Toledo International from $350.00 to $400.00 and gave the company a neutral rating in a research report on Friday, July 29th. Citigroup Inc. cut shares of Mettler-Toledo International from a buy rating to a neutral rating and upped their price target for the company from $382.00 to $400.00 in a research report on Thursday, June 23rd. Finally, Bank of America Corp. raised shares of Mettler-Toledo International from a neutral rating to a buy rating and upped their price target for the company from $404.33 to $470.00 in a research report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $378.38.
Shares of Mettler-Toledo International (NYSE:MTD) traded up 0.42% during mid-day trading on Wednesday, reaching $418.40. The company had a trading volume of 35,898 shares. The stock has a 50 day moving average of $405.73 and a 200-day moving average of $379.61. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 32.31 and a beta of 1.16. Mettler-Toledo International has a one year low of $282.05 and a one year high of $421.24.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.09. Mettler-Toledo International had a net margin of 14.74% and a return on equity of 68.23%. The company had revenue of $608.28 million for the quarter, compared to analysts’ expectations of $598.20 million. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Mettler-Toledo International’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts predict that Mettler-Toledo International will post $14.45 EPS for the current year.
In other Mettler-Toledo International news, Director Thomas P. Salice sold 460 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $414.03, for a total value of $190,453.80. Following the sale, the director now directly owns 32,578 shares in the company, valued at approximately $13,488,269.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Caratsch sold 700 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $412.50, for a total transaction of $288,750.00. Following the completion of the sale, the insider now owns 1,470 shares in the company, valued at $606,375. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Wetherby Asset Management Inc. boosted its stake in Mettler-Toledo International by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 770 shares of the company’s stock valued at $281,000 after buying an additional 4 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Mettler-Toledo International by 3.3% in the second quarter. Checchi Capital Advisers LLC now owns 316 shares of the company’s stock valued at $115,000 after buying an additional 10 shares during the period. Moody Lynn & Lieberson LLC boosted its stake in Mettler-Toledo International by 1.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 1,115 shares of the company’s stock valued at $407,000 after buying an additional 13 shares during the period. Envestnet Asset Management Inc. boosted its stake in Mettler-Toledo International by 0.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,273 shares of the company’s stock valued at $1,128,000 after buying an additional 15 shares during the period. Finally, Veritable L.P. boosted its stake in Mettler-Toledo International by 0.7% in the second quarter. Veritable L.P. now owns 3,897 shares of the company’s stock valued at $1,422,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 96.62% of the company’s stock.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company is a provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a provider of analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes.
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