Mettler-Toledo International, Inc. (MTD) Upgraded to “Buy” at 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 note issued to investors on Thursday. The brokerage currently has a $711.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.94% from the company’s previous close.
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 analysts also recently commented on MTD. BidaskClub raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $550.00 price objective on shares of Mettler-Toledo International in a report on Thursday, July 27th. Morgan Stanley reissued an “equal weight” rating and set a $565.00 price objective (up previously from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Wells Fargo & Company raised shares of Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 12th. Finally, Bank of America Corporation boosted their price objective on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mettler-Toledo International currently has a consensus rating of “Buy” and an average price target of $575.20.
Shares of Mettler-Toledo International (NYSE:MTD) traded down 0.03% on Thursday, reaching $634.99. 15,956 shares of the company were exchanged. The company has a market capitalization of $16.30 billion, a P/E ratio of 39.05 and a beta of 1.11. The stock has a 50 day moving average of $595.61 and a 200-day moving average of $557.43. Mettler-Toledo International has a 52-week low of $394.49 and a 52-week high of $636.54.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.03. The firm had revenue of $653.70 million for the quarter, compared to the consensus estimate of $646.68 million. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.22 earnings per share. On average, analysts predict that Mettler-Toledo International will post $17.33 EPS for the current fiscal year.
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In other Mettler-Toledo International news, Director Robert F. Spoerry sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $590.78, for a total value of $2,953,900.00. Following the sale, the director now owns 8,287 shares of the company’s stock, valued at $4,895,793.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian Magloth sold 750 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $590.00, for a total transaction of $442,500.00. Following the completion of the sale, the insider now directly owns 750 shares in the company, valued at approximately $442,500. The disclosure for this sale can be found here. Insiders sold 27,356 shares of company stock worth $16,150,829 in the last ninety days. Insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Israel Discount Bank of New York purchased a new stake in shares of Mettler-Toledo International in the first quarter valued at about $102,000. First Personal Financial Services lifted its holdings in shares of Mettler-Toledo International by 2.8% in 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 lifted its holdings in shares of Mettler-Toledo International by 2,585.7% in 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. Acrospire Investment Management LLC purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at about $118,000. Finally, TLP Group LLC purchased a new stake in shares of Mettler-Toledo International in the first quarter valued at about $144,000. 93.18% of the stock is currently owned by institutional investors.
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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