Mettler-Toledo International (NYSE:MTD) Price Target Raised to $1,815.00

Mettler-Toledo International (NYSE:MTD) had its price target increased by Robert W. Baird from $1,608.00 to $1,815.00 in a research report sent to investors on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the medical instruments supplier’s stock.

Several other brokerages have also recently issued reports on MTD. Morgan Stanley boosted their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Royal Bank Of Canada started coverage on shares of Mettler-Toledo International in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 target price for the company. UBS Group initiated coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $1,460.00 target price for the company. Jefferies Financial Group lifted their target price on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised Mettler-Toledo International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1,595.77.

Mettler-Toledo International Trading Down 0.1%

NYSE:MTD opened at $1,750.03 on Monday. The firm has a market cap of $34.81 billion, a P/E ratio of 37.83, a PEG ratio of 3.49 and a beta of 1.16. The company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28. The stock’s 50 day simple moving average is $1,546.33 and its 200-day simple moving average is $1,350.82. Mettler-Toledo International has a 12-month low of $1,023.05 and a 12-month high of $1,806.58.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 EPS for the quarter, topping the consensus estimate of $12.13 by $0.44. Mettler-Toledo International had a return on equity of 15,012.71% and a net margin of 22.25%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $11.15 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Mettler-Toledo International will post 47.83 EPS for the current year.

Insiders Place Their Bets

In other 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 value of $1,342,350.00. Following the completion of the transaction, the chief executive officer owned 4,480 shares in the company, valued at $6,384,000. This trade represents a 17.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gerry Keller sold 435 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $1,734.05, for a total value of $754,311.75. Following the sale, the insider owned 259 shares in the company, valued at approximately $449,118.95. The trade was a 62.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of Mettler-Toledo International

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Mettler-Toledo International during the second quarter worth $2,404,713,000. Bank of New York Mellon Corp purchased a new position in shares of Mettler-Toledo International during the 2nd quarter worth $762,553,000. Wellington Management Group LLP lifted its stake 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 purchasing an additional 413,547 shares during the period. Aberdeen Group plc lifted its stake 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 purchasing an additional 227,268 shares during the period. Finally, Amundi boosted its holdings in shares of Mettler-Toledo International by 40.7% during the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier’s stock worth $307,420,000 after purchasing an additional 69,620 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 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.