Mettler-Toledo International (NYSE:MTD) Sets New 12-Month High on Earnings Beat

Mettler-Toledo International Inc. (NYSE:MTD) shares hit a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $1,469.00 and last traded at $1,462.81, with a volume of 68179 shares changing hands. The stock had previously closed at $1,290.42.

The medical instruments supplier reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. Mettler-Toledo International had a net margin of 20.82% and a negative return on equity of 904.59%. The firm had revenue of $925.95 million during the quarter, compared to analyst estimates of $879.72 million. During the same period in the prior year, the business earned $8.69 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1,191.57.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 400 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total transaction of $511,492.00. Following the transaction, the insider now directly owns 734 shares of the company’s stock, valued at $938,587.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Christian Magloth sold 400 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at $938,587.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1,210.83, for a total transaction of $363,249.00. Following the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $5,950,018.62. The disclosure for this sale can be found here. Insiders have sold 951 shares of company stock worth $1,170,256 over the last 90 days. 1.94% of the stock is currently owned by company insiders.

Institutional Trading of Mettler-Toledo International

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC increased its holdings in shares of Mettler-Toledo International by 3.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 696 shares of the medical instruments supplier’s stock valued at $927,000 after acquiring an additional 20 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Mettler-Toledo International by 18.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,212 shares of the medical instruments supplier’s stock valued at $33,564,000 after buying an additional 3,853 shares during the period. Angeles Wealth Management LLC increased its stake in Mettler-Toledo International by 22.9% in the 1st quarter. Angeles Wealth Management LLC now owns 231 shares of the medical instruments supplier’s stock valued at $308,000 after buying an additional 43 shares during the period. TD Asset Management Inc boosted its position in shares of Mettler-Toledo International by 53.1% during the 1st quarter. TD Asset Management Inc now owns 154,381 shares of the medical instruments supplier’s stock worth $205,526,000 after purchasing an additional 53,561 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Mettler-Toledo International by 1.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 46,153 shares of the medical instruments supplier’s stock worth $61,443,000 after purchasing an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

The company has a market capitalization of $31.48 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.16. The firm’s 50-day simple moving average is $1,282.67 and its 200 day simple moving average is $1,188.88.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.