Zacks Investment Research cut shares of Mettler-Toledo International, Inc. (NYSE:MTD) from a buy rating to a hold rating in a report published on Wednesday, May 24th.
According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. The company’s first-quarter 2017 results have beaten the Zacks Consensus Estimate on the top and the bottom line. The strong results were driven by strength across all product lines and regions. Over the last one year, the stock has outperformed the Zacks Instruments – Scientific industry. 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.”
Separately, Cleveland Research raised Mettler-Toledo International from a neutral rating to a buy rating in a research note on Wednesday, April 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $501.00.
Mettler-Toledo International (NYSE MTD) traded up 0.54% on Wednesday, reaching $587.38. The company had a trading volume of 217,197 shares. Mettler-Toledo International has a 12 month low of $343.61 and a 12 month high of $604.99. The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of 38.32 and a beta of 1.10. The firm has a 50 day moving average price of $565.87 and a 200-day moving average price of $482.50.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, May 4th. The medical instruments supplier reported $3.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.08 by $0.26. The business had revenue of $594.57 million for the quarter, compared to the consensus estimate of $571.30 million. Mettler-Toledo International had a return on equity of 90.28% and a net margin of 16.04%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. Analysts forecast that Mettler-Toledo International will post $17.19 earnings per share for the current fiscal year.
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In related news, insider Waldemar Rauch sold 1,100 shares of Mettler-Toledo International stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $595.91, for a total value of $655,501.00. Following the sale, the insider now owns 3,065 shares of the company’s stock, valued at $1,826,464.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William P. Donnelly sold 5,000 shares of Mettler-Toledo International stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $546.18, for a total value of $2,730,900.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $1,638,540. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,046 shares of company stock worth $28,826,702. 5.20% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Mettler-Toledo International by 0.4% in the first quarter. FMR LLC now owns 2,765,423 shares of the medical instruments supplier’s stock worth $1,324,389,000 after buying an additional 9,729 shares during the last quarter. Vanguard Group Inc. boosted its position in Mettler-Toledo International by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,547,233 shares of the medical instruments supplier’s stock worth $1,219,895,000 after buying an additional 17,242 shares during the last quarter. 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. State Street Corp boosted its position in Mettler-Toledo International by 2.4% in the first quarter. State Street Corp now owns 1,155,191 shares of the medical instruments supplier’s stock worth $553,237,000 after buying an additional 26,930 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in Mettler-Toledo International by 1.5% in the first quarter. Baillie Gifford & Co. now owns 639,613 shares of the medical instruments supplier’s stock worth $306,317,000 after buying an additional 9,219 shares during the last quarter. Institutional investors and hedge funds own 96.78% 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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