Mettler-Toledo International, Inc. (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 on Thursday. The firm currently has a $705.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.00% from the company’s current price.
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.”
A number of other research firms have also commented 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 research report on Wednesday, May 31st. Morgan Stanley restated an “equal weight” rating and set a $565.00 price target (up from $533.00) on shares of Mettler-Toledo International in a research report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and set a $550.00 price target on shares of Mettler-Toledo International in a research report on Tuesday, June 20th. BidaskClub lowered Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Wells Fargo & Company upgraded Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mettler-Toledo International presently has a consensus rating of “Buy” and a consensus target price of $574.00.
Mettler-Toledo International (MTD) opened at 622.72 on Thursday. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 38.29 and a beta of 1.11. Mettler-Toledo International has a 12 month low of $393.77 and a 12 month high of $629.63. The firm’s 50-day moving average price is $590.03 and its 200-day moving average price is $552.06.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping the Zacks’ consensus estimate of $3.89 by $0.03. The business had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. Mettler-Toledo International’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.22 EPS. Equities research analysts predict that Mettler-Toledo International will post $17.33 earnings per share for the current year.
In other Mettler-Toledo International news, CFO Shawn Vadala sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $577.00, for a total transaction of $865,500.00. Following the completion of the transaction, the chief financial officer now directly owns 6,525 shares in the company, valued at $3,764,925. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William P. Donnelly sold 2,845 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $576.92, for a total transaction of $1,641,337.40. Following the transaction, the insider now owns 2,345 shares of the company’s stock, valued at $1,352,877.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,356 shares of company stock valued at $16,150,829. Company insiders own 5.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MTD. Ladenburg Thalmann Financial Services Inc. raised its position in Mettler-Toledo International by 1.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 292 shares of the medical instruments supplier’s stock valued at $100,000 after purchasing an additional 5 shares in the last quarter. Israel Discount Bank of New York acquired a new position in Mettler-Toledo International during the first quarter valued at approximately $102,000. First Personal Financial Services raised its position in Mettler-Toledo International by 2.8% during the second quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock valued at $109,000 after purchasing an additional 5 shares in the last quarter. Sun Life Financial INC raised its position in Mettler-Toledo International by 2,585.7% during the second quarter. Sun Life Financial INC now owns 188 shares of the medical instruments supplier’s stock valued at $111,000 after purchasing an additional 181 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Mettler-Toledo International by 3.3% during the second quarter. Checchi Capital Advisers LLC now owns 316 shares of the medical instruments supplier’s stock valued at $115,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 93.14% 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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