Evercore ISI Increases Mettler-Toledo International (NYSE:MTD) Price Target to $1,450.00

Mettler-Toledo International (NYSE:MTD) had its target price boosted by Evercore ISI from $1,375.00 to $1,450.00 in a research report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the medical instruments supplier’s stock.

MTD has been the subject of a number of other research reports. Jefferies Financial Group restated an underperform rating and issued a $1,250.00 target price (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Stifel Nicolaus raised their target price on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a buy rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Wells Fargo & Company started coverage on Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an equal weight rating and a $1,400.00 target price for the company. Finally, The Goldman Sachs Group lifted their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $1,363.75.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,463.40 on Tuesday. The stock has a market capitalization of $31.25 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 3.75 and a beta of 1.14. Mettler-Toledo International has a 1-year low of $928.49 and a 1-year high of $1,546.93. The business has a fifty day moving average price of $1,425.23 and a 200-day moving average price of $1,384.82.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. The company had revenue of $946.75 million during the quarter, compared to analyst estimates of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $10.19 EPS. On average, equities research analysts anticipate that Mettler-Toledo International will post 40.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In related news, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 15th. The stock was 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 owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at approximately $6,884,514. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction dated 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 owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

Several institutional investors and hedge funds have recently modified their holdings of MTD. PineStone Asset Management Inc. increased its stake in shares of Mettler-Toledo International by 127.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after purchasing an additional 145,453 shares in the last quarter. Capital International Investors boosted its holdings in Mettler-Toledo International by 15.1% in the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock worth $1,431,696,000 after buying an additional 141,431 shares during the last quarter. Putnam Investments LLC boosted its holdings in Mettler-Toledo International by 2,561.7% in the 4th quarter. Putnam Investments LLC now owns 67,555 shares of the medical instruments supplier’s stock worth $81,941,000 after buying an additional 65,017 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Mettler-Toledo International by 22,090.4% in the 4th quarter. Point72 Asset Management L.P. now owns 59,914 shares of the medical instruments supplier’s stock worth $72,673,000 after buying an additional 59,644 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Mettler-Toledo International by 88.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier’s stock worth $163,290,000 after buying an additional 57,509 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Company Profile

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.