Zacks Investment Research upgraded shares of Mettler-Toledo International, Inc. (NYSE:MTD) from a hold rating to a buy rating in a report published on Thursday. They currently have $705.00 price target on the medical instruments supplier’s stock.
According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. The company reported better-than-expected second-quarter 2017 results, surpassing the Zacks Consensus Estimate on earnings and revenues. The results were driven by strong growth across all product lines and 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 research analysts also recently weighed in on MTD. Bank of America Corporation increased their price target on Mettler-Toledo International from $590.00 to $630.00 and gave the stock a buy rating in a report on Wednesday, May 31st. BidaskClub downgraded Mettler-Toledo International from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Jefferies Group LLC restated a hold rating and set a $550.00 price objective on shares of Mettler-Toledo International in a report on Tuesday, June 20th. Wells Fargo & Company upgraded Mettler-Toledo International from a market perform rating to an outperform rating in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an equal weight rating and set a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $574.00.
Shares of Mettler-Toledo International (NYSE MTD) opened at 626.00 on Thursday. The company’s 50 day moving average price is $592.34 and its 200 day moving average price is $554.17. Mettler-Toledo International has a 52-week low of $395.61 and a 52-week high of $629.63. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 38.49 and a beta of 1.11.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.03. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The firm had revenue of $653.70 million for the quarter, compared to the consensus estimate of $646.68 million. During the same period in the prior year, the business posted $3.22 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Mettler-Toledo International will post $17.33 EPS for the current year.
In other Mettler-Toledo International news, insider William P. Donnelly sold 2,845 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $576.92, for a total transaction of $1,641,337.40. Following the transaction, the insider now directly owns 2,345 shares in the company, valued at approximately $1,352,877.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Vadala sold 1,500 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $577.00, for a total value of $865,500.00. Following the transaction, the chief financial officer now owns 6,525 shares in the company, valued at $3,764,925. The disclosure for this sale can be found here. Insiders have sold a total of 27,356 shares of company stock worth $16,150,829 over the last 90 days. 5.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in Mettler-Toledo International by 0.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,087 shares of the medical instruments supplier’s stock valued at $639,000 after acquiring an additional 5 shares in the last quarter. First Personal Financial Services boosted its position in 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 valued at $109,000 after acquiring an additional 5 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in 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 valued at $328,000 after acquiring an additional 7 shares in the last quarter. Pacer Advisors Inc. boosted its position in Mettler-Toledo International by 2.5% during the 1st quarter. Pacer Advisors Inc. now owns 454 shares of the medical instruments supplier’s stock valued at $217,000 after acquiring an additional 11 shares in the last quarter. Finally, 1st Global Advisors Inc. boosted its position in Mettler-Toledo International by 0.7% during the 1st quarter. 1st Global Advisors Inc. now owns 1,812 shares of the medical instruments supplier’s stock valued at $868,000 after acquiring an additional 13 shares in the last quarter. 93.14% of the stock is currently owned by institutional investors and hedge funds.
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.
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 MarketBeat.com's FREE daily email newsletter.