Zacks Investment Research downgraded shares of Mettler-Toledo International Inc. (NYSE:MTD) from a buy rating to a hold rating in a research note released on Wednesday.

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 equities research analysts also recently issued reports on MTD. JPMorgan Chase & Co. increased their price target on shares of Mettler-Toledo International from $350.00 to $400.00 and gave the stock a neutral rating in a report on Friday, July 29th. Bank of America Corp. upgraded shares of Mettler-Toledo International from a neutral rating to a buy rating and upped their price objective for the stock from $404.33 to $470.00 in a research report on Wednesday, August 31st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $392.29.

Analyst Recommendations for Mettler-Toledo International (NYSE:MTD)

Shares of Mettler-Toledo International (NYSE:MTD) traded down 0.53% during midday trading on Wednesday, hitting $419.11. 85,663 shares of the company traded hands. The stock has a 50 day moving average of $413.19 and a 200-day moving average of $392.27. Mettler-Toledo International has a 52 week low of $291.33 and a 52 week high of $434.50. The stock has a market capitalization of $11.00 billion, a PE ratio of 30.94 and a beta of 1.24.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.23. Mettler-Toledo International had a net margin of 14.97% and a return on equity of 73.43%. The firm had revenue of $650.60 million for the quarter, compared to the consensus estimate of $627.37 million. During the same period in the prior year, the firm posted $3.26 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts forecast that Mettler-Toledo International will post $14.65 earnings per share for the current fiscal year.

In related news, Director Francis A. Contino sold 700 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $428.08, for a total value of $299,656.00. Following the completion of the sale, the director now owns 1,934 shares of the company’s stock, valued at $827,906.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,285 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $406.40, for a total value of $522,224.00. Following the completion of the sale, the insider now directly owns 785 shares of the company’s stock, valued at approximately $319,024. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Wetherby Asset Management Inc. raised its stake in shares of Mettler-Toledo International by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 770 shares of the company’s stock worth $281,000 after buying an additional 4 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Mettler-Toledo International by 3.3% in the second quarter. Checchi Capital Advisers LLC now owns 316 shares of the company’s stock worth $115,000 after buying an additional 10 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Mettler-Toledo International by 1.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 1,115 shares of the company’s stock worth $407,000 after buying an additional 13 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Mettler-Toledo International by 0.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,273 shares of the company’s stock worth $1,128,000 after buying an additional 15 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Mettler-Toledo International by 1.4% in the third quarter. First Citizens Bank & Trust Co. now owns 1,330 shares of the company’s stock worth $558,000 after buying an additional 19 shares during the last quarter. 97.48% 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 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.

5 Day Chart for NYSE:MTD

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