Bank of America Issues Positive Forecast for Mettler-Toledo International (NYSE:MTD) Stock Price

Mettler-Toledo International (NYSE:MTD - Get Free Report) had its target price raised by analysts at Bank of America from $1,200.00 to $1,260.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the medical instruments supplier's stock. Bank of America's price objective suggests a potential upside of 6.00% from the stock's previous close.

Other equities research analysts have also issued reports about the company. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their target price for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target on the stock in a research note on Monday, April 7th. Finally, Robert W. Baird reduced their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Mettler-Toledo International has an average rating of "Hold" and a consensus price target of $1,300.36.

Mettler-Toledo International Trading Down 0.4%

MTD stock traded down $4.19 during midday trading on Thursday, hitting $1,188.66. 92,734 shares of the company's stock were exchanged, compared to its average volume of 152,087. Mettler-Toledo International has a 12-month low of $946.69 and a 12-month high of $1,546.93. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 3.51 and a beta of 1.38. The firm has a 50 day moving average price of $1,126.55 and a 200-day moving average price of $1,199.44.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.29. The firm had revenue of $883.74 million for the quarter, compared to analysts' expectations of $876.61 million. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The firm's quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.89 earnings per share. On average, sell-side analysts forecast that Mettler-Toledo International will post 42.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the sale, the director now directly owns 120 shares of the company's stock, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.94% of the company's stock.

Institutional Trading of Mettler-Toledo International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTD. SBI Securities Co. Ltd. bought a new position in Mettler-Toledo International in the fourth quarter valued at approximately $33,000. WPG Advisers LLC bought a new position in shares of Mettler-Toledo International in the 1st quarter worth $41,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Mettler-Toledo International during the fourth quarter worth $44,000. Zions Bancorporation National Association UT acquired a new stake in shares of Mettler-Toledo International during the first quarter worth $43,000. Finally, Golden State Wealth Management LLC increased its holdings in Mettler-Toledo International by 583.3% in the first quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier's stock valued at $48,000 after purchasing an additional 35 shares during the last quarter. 95.07% of the stock is 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.

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