Evercore ISI Issues Pessimistic Forecast for Mettler-Toledo International (NYSE:MTD) Stock Price

Key Points

• Evercore ISI has lowered Mettler-Toledo International's price target from $1,280.00 to $1,275.00, indicating a potential upside of 4.06% from its previous close.
• Several analysts have shown mixed sentiments, with Citigroup upgrading the stock to "buy" and setting a target of $1,400.00 while Wall Street Zen downgraded it to "hold".
• Mettler-Toledo International reported a beat in earnings with $10.09 EPS, exceeding estimates of $9.58, alongside a revenue of $983.22 million for the latest quarter.

Mettler-Toledo International (NYSE:MTD - Get Free Report) had its target price lowered by analysts at Evercore ISI from $1,280.00 to $1,275.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the medical instruments supplier's stock. Evercore ISI's target price would indicate a potential upside of 3.40% from the company's current price.

Other analysts have also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays began coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 target price on the stock. Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Bank of America boosted their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $1,288.89.

Mettler-Toledo International Price Performance

Shares of MTD stock traded down $10.89 during trading hours on Monday, reaching $1,233.06. 32,471 shares of the company were exchanged, compared to its average volume of 175,441. Mettler-Toledo International has a fifty-two week low of $946.69 and a fifty-two week high of $1,521.01. The stock's fifty day moving average is $1,197.57 and its two-hundred day moving average is $1,192.45. The company has a market cap of $25.40 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 3.70 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, beating the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The firm had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. During the same quarter in the prior year, the firm earned $9.65 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Mettler-Toledo International will post 42.71 earnings per share for the current year.

Insiders Place Their Bets

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the transaction, the director owned 120 shares in the company, valued at approximately $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

Institutional Trading of Mettler-Toledo International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenleaf Trust raised its holdings in shares of Mettler-Toledo International by 1.2% in the first quarter. Greenleaf Trust now owns 872 shares of the medical instruments supplier's stock valued at $1,030,000 after purchasing an additional 10 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Mettler-Toledo International by 12.8% in the first quarter. Brooklyn Investment Group now owns 88 shares of the medical instruments supplier's stock valued at $104,000 after purchasing an additional 10 shares during the last quarter. Sax Wealth Advisors LLC increased its holdings in Mettler-Toledo International by 2.8% during the second quarter. Sax Wealth Advisors LLC now owns 372 shares of the medical instruments supplier's stock worth $437,000 after buying an additional 10 shares during the last quarter. Albion Financial Group UT increased its holdings in Mettler-Toledo International by 1.5% during the first quarter. Albion Financial Group UT now owns 754 shares of the medical instruments supplier's stock worth $890,000 after buying an additional 11 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Mettler-Toledo International by 1.8% during the first quarter. Sequoia Financial Advisors LLC now owns 627 shares of the medical instruments supplier's stock worth $740,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

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.