Mettler-Toledo International (NYSE:MTD) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Mettler-Toledo International (NYSE:MTD) had its target price increased by research analysts at JPMorgan Chase & Co. from $1,550.00 to $1,725.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 2.10% from the company’s previous close.

A number of other research firms have also issued reports on MTD. UBS Group began coverage on Mettler-Toledo International in a report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 price target on the stock. Barclays upped their price objective on Mettler-Toledo International from $1,700.00 to $1,900.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley increased their price objective on Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Robert W. Baird increased their price objective on Mettler-Toledo International from $1,608.00 to $1,815.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Jefferies Financial Group lifted their target price on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1,595.77.

Mettler-Toledo International Stock Performance

MTD stock traded up $39.88 on Monday, hitting $1,762.04. The company’s stock had a trading volume of 127,005 shares, compared to its average volume of 184,158. The stock has a market cap of $35.31 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 3.46 and a beta of 1.16. The firm has a 50 day moving average of $1,524.65 and a two-hundred day moving average of $1,345.95. The company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28. Mettler-Toledo International has a 1 year low of $1,023.05 and a 1 year high of $1,806.58.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $12.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.13 by $0.44. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Mettler-Toledo International had a net margin of 22.25% and a return on equity of 15,012.71%. Mettler-Toledo International’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $11.15 EPS. Equities analysts predict that Mettler-Toledo International will post 47.49 EPS for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In related news, CEO Patrick Kaltenbach sold 942 shares of the 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 completion of the transaction, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at $6,384,000. This represents a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mettler-Toledo International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XXEC Inc. acquired a new stake in Mettler-Toledo International during the second quarter valued at approximately $77,044,000. BlackRock Inc. acquired a new position in shares of Mettler-Toledo International in the 2nd quarter worth approximately $2,404,713,000. Bank of New York Mellon Corp bought a new position in shares of Mettler-Toledo International during the 2nd quarter worth approximately $762,553,000. Wellington Management Group LLP lifted its position in shares of Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock worth $586,459,000 after buying an additional 413,547 shares during the period. Finally, Aberdeen Group plc lifted its position in shares of Mettler-Toledo International by 1,214.7% during the 3rd quarter. Aberdeen Group plc now owns 245,978 shares of the medical instruments supplier’s stock worth $371,660,000 after buying an additional 227,268 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.

About Mettler-Toledo International

Mettler-Toledo International develops and manufactures precision instruments and systems used in laboratory, industrial, and retail settings. Its products include laboratory balances and analytical instruments, industrial scales and weighing systems, and equipment for measuring and monitoring production processes.

The company also supplies product-inspection systems, including checkweighers, metal detectors, and X-ray inspection equipment, along with related software, installation, maintenance, and calibration services.