Mettler-Toledo International, Inc. (NYSE:MTD) Stock Rating Upgraded by Zacks Investment Research
Mettler-Toledo International, Inc. (NYSE:MTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $684.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.07% from the stock’s current price.
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.”
A number of other research analysts have also recently weighed in on MTD. BidaskClub upgraded shares of Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company upgraded shares of Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and set a $550.00 price objective on shares of Mettler-Toledo International in a research report on Tuesday, June 20th. Bank of America Corporation boosted their price objective on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Finally, Cleveland Research upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $516.50.
Shares of Mettler-Toledo International (MTD) traded up 0.24% during midday trading on Friday, reaching $611.79. 55,591 shares of the company’s stock traded hands. Mettler-Toledo International has a one year low of $380.35 and a one year high of $616.40. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 39.92 and a beta of 1.14. The company has a 50-day moving average of $594.37 and a 200-day moving average of $511.84.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, May 4th. The medical instruments supplier reported $3.34 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $571.30 million. During the same quarter in the previous year, the business posted $2.46 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Mettler-Toledo International will post $17.24 EPS for the current year.
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In other news, insider Waldemar Rauch sold 1,100 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $595.91, for a total value of $655,501.00. Following the transaction, the insider now directly owns 3,065 shares in the company, valued at $1,826,464.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Simon Kirk sold 811 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $586.03, for a total transaction of $475,270.33. Following the completion of the transaction, the insider now owns 1,971 shares in the company, valued at $1,155,065.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,046 shares of company stock worth $28,826,702. Company insiders own 5.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MTD. BlackRock Inc. boosted its position in Mettler-Toledo International by 1,735.6% in the first quarter. BlackRock Inc. now owns 1,748,149 shares of the medical instruments supplier’s stock worth $837,207,000 after buying an additional 1,652,915 shares during the last quarter. Clearbridge Investments LLC boosted its position in Mettler-Toledo International by 97.4% in the first quarter. Clearbridge Investments LLC now owns 180,393 shares of the medical instruments supplier’s stock worth $86,392,000 after buying an additional 89,000 shares during the last quarter. Morgan Stanley boosted its position in Mettler-Toledo International by 37.8% in the first quarter. Morgan Stanley now owns 269,128 shares of the medical instruments supplier’s stock worth $128,890,000 after buying an additional 73,762 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in Mettler-Toledo International by 125.6% in the first quarter. Pictet Asset Management Ltd. now owns 104,398 shares of the medical instruments supplier’s stock worth $49,998,000 after buying an additional 58,120 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Mettler-Toledo International during the first quarter worth approximately $27,489,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
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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