Mettler-Toledo International (NYSE:MTD) Given New $1,575.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised Mettler-Toledo’s price target to $1,575 from $1,450 while maintaining an “equal weight” rating, implying roughly 0.43% downside from the stock’s current price.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $1,469.15, although Barclays and Jefferies maintain more bullish views with targets of $1,700 and $1,580, respectively.
• Mettler-Toledo shares rose 1.2% to $1,581.77 and are near their 52-week high after the company exceeded quarterly EPS estimates; revenue increased 4.5% year over year to $1.03 billion.

Mettler-Toledo International (NYSE:MTD - Get Free Report) had its price target upped by Morgan Stanley from $1,450.00 to $1,575.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the medical instruments supplier's stock. Morgan Stanley's price target points to a potential downside of 0.43% from the company's current price.

Several other brokerages also recently issued reports on MTD. UBS Group began 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 on the stock. Barclays raised their price target on shares of Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Wells Fargo & Company upped their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Jefferies Financial Group increased their target price on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada began coverage on Mettler-Toledo International in a report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1,469.15.

Mettler-Toledo International Stock Up 1.2%

NYSE:MTD traded up $18.75 during trading hours on Tuesday, reaching $1,581.77. 70,205 shares of the company traded hands, compared to its average volume of 181,168. The business's 50-day moving average price is $1,427.15 and its two-hundred day moving average price is $1,304.23. The stock has a market capitalization of $31.70 billion, a P/E ratio of 35.63, a P/E/G ratio of 3.10 and a beta of 1.19. Mettler-Toledo International has a 1 year low of $1,023.05 and a 1 year high of $1,587.74. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $10.09 EPS. Mettler-Toledo International's quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that Mettler-Toledo International will post 47.37 earnings per share for the current year.

Insider Activity at Mettler-Toledo International

In other news, Director Thomas P. Salice sold 417 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the transaction, the director directly owned 292 shares of the company's stock, valued at $420,599.72. This represents a 58.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerry Keller sold 240 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total value of $342,513.60. Following the completion of the transaction, the insider owned 259 shares in the company, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,254 shares of company stock worth $6,092,712. Company insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Mettler-Toledo International in the 2nd quarter worth approximately $2,404,713,000. T. Rowe Price Investment Management Inc. increased its holdings in Mettler-Toledo International by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier's stock valued at $964,174,000 after buying an additional 3,157 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Mettler-Toledo International during the second quarter valued at approximately $762,553,000. Wellington Management Group LLP raised its position in Mettler-Toledo International by 908.6% in the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock worth $586,459,000 after acquiring an additional 413,547 shares during the period. Finally, Amundi boosted its stake in shares of Mettler-Toledo International by 40.7% during the 2nd quarter. Amundi now owns 240,640 shares of the medical instruments supplier's stock worth $307,420,000 after acquiring an additional 69,620 shares during the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company's solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.

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