Mettler-Toledo International (NYSE:MTD) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its Mettler-Toledo price target from $1,700 to $1,900 and maintained an “overweight” rating, implying about 10% upside from the prior close.
• Analyst sentiment is mixed overall: six analysts rate the stock “buy,” eight “hold,” and one “sell”; the consensus rating is “hold,” with a $1,555.38 price target.
• Mettler-Toledo beat quarterly estimates, reporting EPS of $12.57 versus $12.13 expected and revenue of $1.09 billion, up 6.3% year over year.

Mettler-Toledo International (NYSE:MTD - Get Free Report) had its price target upped by investment analysts at Barclays from $1,700.00 to $1,900.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the medical instruments supplier's stock. Barclays's target price would suggest a potential upside of 10.07% from the company's previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group increased their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Robert W. Baird boosted their target price on shares of Mettler-Toledo International from $1,608.00 to $1,815.00 and gave the company a "neutral" rating in a research report on Monday. Weiss Ratings raised shares of Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 19th. Rothschild & Co Redburn began coverage on shares of Mettler-Toledo International in a report on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 price target on the stock. Finally, Royal Bank Of Canada initiated coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $1,555.38.

Mettler-Toledo International Stock Performance

Shares of Mettler-Toledo International stock traded up $3.99 on Monday, reaching $1,726.14. 48,230 shares of the stock were exchanged, compared to its average volume of 183,745. The company has a quick ratio of 0.75, a current ratio of 1.10 and a debt-to-equity ratio of 25.28. Mettler-Toledo International has a twelve month low of $1,023.05 and a twelve month high of $1,806.58. The firm has a market capitalization of $34.59 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 3.46 and a beta of 1.16. The business has a 50 day moving average price of $1,524.65 and a two-hundred day moving average price of $1,345.95.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 earnings per share for the quarter, topping the consensus estimate of $12.13 by $0.44. Mettler-Toledo International had a net margin of 22.25% and a return on equity of 15,012.71%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $11.15 EPS. Mettler-Toledo International's quarterly revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Mettler-Toledo International will post 47.49 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Patrick Kaltenbach sold 942 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the sale, the chief executive officer directly owned 4,480 shares of the company's stock, valued at approximately $6,384,000. This represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XXEC Inc. purchased a new position in shares of Mettler-Toledo International during the 2nd quarter worth $77,044,000. BlackRock Inc. acquired a new position in shares of Mettler-Toledo International during the 2nd quarter valued at about $2,404,713,000. Bank of New York Mellon Corp purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at about $762,553,000. Wellington Management Group LLP grew its holdings in shares of 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 valued at $586,459,000 after purchasing an additional 413,547 shares during the period. Finally, Aberdeen Group plc grew its holdings in shares of Mettler-Toledo International by 1,214.7% in the third quarter. Aberdeen Group plc now owns 245,978 shares of the medical instruments supplier's stock valued at $371,660,000 after purchasing an additional 227,268 shares during the period. Hedge funds and other institutional investors own 95.07% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.