Mettler-Toledo International (NYSE:MTD) Hits New 52-Week High – Here’s Why

Mettler-Toledo International, Inc. (NYSE:MTD) shares hit a new 52-week high on Wednesday. The company traded as high as $1,666.41 and last traded at $1,661.1280, with a volume of 20,703 shares trading hands. The stock had previously closed at $1,634.01.

Analyst Ratings Changes

MTD has been the subject of a number of recent research reports. Royal Bank Of Canada began coverage on shares of Mettler-Toledo International in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $1,515.00 price target for the company. Stifel Nicolaus lifted their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. UBS Group initiated coverage on Mettler-Toledo International in a report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 price objective on the stock. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Rothschild & Co Redburn started coverage on Mettler-Toledo International in a report on Wednesday, September 2nd. They issued a “sell” rating and a $1,200.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1,469.15.

Mettler-Toledo International Stock Up 0.6%

The company has a market cap of $33.83 billion, a PE ratio of 37.99, a P/E/G ratio of 3.38 and a beta of 1.19. The firm has a 50-day simple moving average of $1,460.32 and a two-hundred day simple moving average of $1,325.51. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.78 by $0.68. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $10.09 earnings per share. Research analysts anticipate that Mettler-Toledo International, Inc. will post 47.37 earnings per share for the current fiscal year.

Insider Activity

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the sale, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at $6,384,000. This trade represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerry Keller sold 240 shares of Mettler-Toledo International stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the sale, the insider owned 259 shares of the company’s stock, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,254 shares of company stock valued at $6,092,712 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Mettler-Toledo International during the second quarter worth $2,404,713,000. Bank of New York Mellon Corp purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at $762,553,000. Wellington Management Group LLP grew its position in shares of Mettler-Toledo International by 908.6% in the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after purchasing an additional 413,547 shares during the period. Amundi increased its stake in Mettler-Toledo International by 40.7% in the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier’s stock valued at $307,420,000 after purchasing an additional 69,620 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Mettler-Toledo International by 60.9% in the first quarter. Bank of America Corp DE now owns 207,286 shares of the medical instruments supplier’s stock valued at $261,429,000 after purchasing an additional 78,487 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

About Mettler-Toledo International

Mettler-Toledo International Inc (NYSE: MTD) develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company’s laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.