$683.09 Million in Sales Expected for Mettler-Toledo International, Inc. (MTD) This Quarter
Analysts expect that Mettler-Toledo International, Inc. (NYSE:MTD) will report sales of $683.09 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Mettler-Toledo International’s earnings. The lowest sales estimate is $680.00 million and the highest is $685.25 million. Mettler-Toledo International posted sales of $650.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Mettler-Toledo International will report full year sales of $683.09 million for the current financial year, with estimates ranging from $2.68 billion to $2.70 billion. For the next year, analysts forecast that the company will post sales of $2.85 billion per share, with estimates ranging from $2.83 billion to $2.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Mettler-Toledo International.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.03. The firm had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 EPS.
Several analysts recently weighed in on MTD shares. BidaskClub raised Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Wells Fargo & Company raised Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $705.00 price objective for the company in a report on Thursday, September 14th. Jefferies Group LLC reissued a “hold” rating and issued a $550.00 price objective on shares of Mettler-Toledo International in a report on Tuesday, June 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Mettler-Toledo International presently has a consensus rating of “Buy” and an average target price of $602.67.
In other news, Director Thomas P. Salice sold 890 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $611.00, for a total transaction of $543,790.00. Following the completion of the transaction, the director now directly owns 62,437 shares in the company, valued at $38,149,007. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William P. Donnelly sold 2,845 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $576.92, for a total value 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 sold 27,356 shares of company stock valued at $16,150,829. 5.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Airain ltd acquired a new position in shares of Mettler-Toledo International during the second quarter worth approximately $2,958,000. Morgan Stanley boosted its position in shares of Mettler-Toledo International by 37.8% during 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 period. Riverhead Capital Management LLC boosted its position in shares of Mettler-Toledo International by 90.5% during the second quarter. Riverhead Capital Management LLC now owns 1,800 shares of the medical instruments supplier’s stock worth $1,060,000 after buying an additional 855 shares during the period. Principal Financial Group Inc. boosted its position in shares of Mettler-Toledo International by 2.3% during the second quarter. Principal Financial Group Inc. now owns 42,546 shares of the medical instruments supplier’s stock worth $25,040,000 after buying an additional 974 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Mettler-Toledo International by 2.0% during the second quarter. California Public Employees Retirement System now owns 71,000 shares of the medical instruments supplier’s stock worth $41,786,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 93.08% of the company’s stock.
Shares of Mettler-Toledo International (NYSE:MTD) traded down 0.72% during mid-day trading on Tuesday, hitting $662.20. The company had a trading volume of 39,994 shares. The stock’s 50-day moving average is $627.70 and its 200-day moving average is $578.23. Mettler-Toledo International has a 52-week low of $395.61 and a 52-week high of $668.55. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 40.72 and a beta of 1.11.
Mettler-Toledo International Company Profile
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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