Mettler-Toledo International, Inc. (MTD) Rating Lowered to Hold at Zacks Investment Research
Mettler-Toledo International, Inc. (NYSE:MTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. Over the last one year, the stock has outperformed the Zacks Instruments – Scientific industry. We remain positive about the company’s Stern Drive program aimed at operational improvement through material cost reductions, shop floor productivity and back office productivity. We expect this program to complement existing Spinnaker and Blue Ocean programs and enhance supply chain and manufacturing efficiencies. Going forward, Mettler-Toledo’s leading market position, focus on product development and cost reduction, sales and marketing efforts and operational excellence programs are positives. However, seasonality, volatility in emerging market growth, foreign exchange risk and business concentration in China remain overhangs.”
MTD has been the subject of a number of other reports. Cleveland Research raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a report on Wednesday, April 19th. BidaskClub raised shares of Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $550.00 price objective on shares of Mettler-Toledo International in a report on Tuesday, June 20th. Finally, Bank of America Corporation raised their price objective on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Mettler-Toledo International currently has a consensus rating of “Buy” and a consensus target price of $532.80.
Mettler-Toledo International (NYSE MTD) traded down 0.26% during trading on Tuesday, hitting $591.43. 124,994 shares of the company traded hands. Mettler-Toledo International has a one year low of $370.87 and a one year high of $604.99. The firm has a 50 day moving average of $582.56 and a 200 day moving average of $494.11. The firm has a market cap of $15.27 billion, a P/E ratio of 38.59 and a beta of 1.14.
Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, May 4th. The medical instruments supplier reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.26. Mettler-Toledo International had a net margin of 16.04% and a return on equity of 90.28%. The business had revenue of $594.57 million for the quarter, compared to analyst estimates of $571.30 million. During the same period last year, the business posted $2.46 EPS. Mettler-Toledo International’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Mettler-Toledo International will post $17.19 earnings per share for the current fiscal year.
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In related news, insider William P. Donnelly sold 5,000 shares of Mettler-Toledo International stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $546.18, for a total transaction of $2,730,900.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at approximately $1,638,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francis A. Contino sold 725 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $546.00, for a total transaction of $395,850.00. Following the transaction, the director now directly owns 2,234 shares in the company, valued at approximately $1,219,764. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,046 shares of company stock valued at $28,826,702. 5.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTD. Highland Capital Management LLC bought a new position in shares of Mettler-Toledo International during the first quarter worth $299,000. Legacy Private Trust Co. raised its position in shares of Mettler-Toledo International by 3.4% in the first quarter. Legacy Private Trust Co. now owns 10,049 shares of the medical instruments supplier’s stock worth $4,813,000 after buying an additional 327 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Mettler-Toledo International by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 8,168 shares of the medical instruments supplier’s stock worth $3,911,000 after buying an additional 110 shares during the last quarter. Creative Planning raised its position in shares of Mettler-Toledo International by 7.4% in the first quarter. Creative Planning now owns 1,151 shares of the medical instruments supplier’s stock worth $551,000 after buying an additional 79 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Mettler-Toledo International during the first quarter worth $264,000. 95.37% 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.
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