Mettler-Toledo International (NYSE:MTD) Trading Down 3.5%

Mettler-Toledo International Inc. (NYSE:MTD)’s share price was down 3.5% during mid-day trading on Friday . The company traded as low as $1,385.82 and last traded at $1,392.17. Approximately 18,982 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 134,206 shares. The stock had previously closed at $1,443.03.

Analysts Set New Price Targets

A number of brokerages have commented on MTD. The Goldman Sachs Group increased their price objective on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Jefferies Financial Group reissued an “underperform” rating and issued a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Evercore ISI lifted their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company started coverage on Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1,356.25.

Mettler-Toledo International Stock Performance

The stock has a market capitalization of $29.66 billion, a P/E ratio of 40.47, a PEG ratio of 3.70 and a beta of 1.14. The firm’s 50-day simple moving average is $1,407.70 and its 200 day simple moving average is $1,374.32.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. The firm had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.19 earnings per share. As a group, research analysts expect that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

Insider Activity

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Vadala sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mettler-Toledo International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTD. EverSource Wealth Advisors LLC grew its position in Mettler-Toledo International by 8.0% in the first quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 7 shares during the last quarter. UMB Bank n.a. grew its position in Mettler-Toledo International by 6.6% during the 2nd quarter. UMB Bank n.a. now owns 113 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 7 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Mettler-Toledo International by 0.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,813 shares of the medical instruments supplier’s stock valued at $2,413,000 after acquiring an additional 8 shares during the period. Bellevue Group AG boosted its position in shares of Mettler-Toledo International by 32.0% during the 1st quarter. Bellevue Group AG now owns 33 shares of the medical instruments supplier’s stock valued at $44,000 after purchasing an additional 8 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Mettler-Toledo International by 7.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier’s stock worth $166,000 after purchasing an additional 8 shares during the period. 95.07% of the stock is currently owned by institutional investors.

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.