Mettler-Toledo International (NYSE:MTD) Hits New 52-Week High at $1,529.98

Mettler-Toledo International Inc. (NYSE:MTD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $1,529.98 and last traded at $1,529.98, with a volume of 30577 shares. The stock had previously closed at $1,519.89.

Analyst Ratings Changes

A number of brokerages have commented on MTD. Stifel Nicolaus increased their price objective on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the company a "buy" rating in a research report on Monday. Robert W. Baird increased their target price on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a "neutral" rating in a report on Monday. StockNews.com raised Mettler-Toledo International from a "hold" rating to a "buy" rating in a report on Monday, April 29th. Citigroup raised their target price on Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a "sell" rating in a research report on Monday. Finally, Evercore ISI upped their price target on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an "in-line" rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $1,257.14.

Mettler-Toledo International Price Performance

The business's 50-day moving average price is $1,299.24 and its 200-day moving average price is $1,204.55. The firm has a market capitalization of $32.69 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 3.96 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, beating analysts' consensus estimates of $7.61 by $1.28. The firm had revenue of $925.95 million for the quarter, compared to analyst estimates of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. Mettler-Toledo International's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $8.69 EPS. Equities analysts forecast that Mettler-Toledo International Inc. will post 40.16 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas P. Salice sold 1,268 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total value of $1,889,548.24. Following the sale, the director now directly owns 244 shares in the company, valued at $363,603.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas P. Salice sold 1,268 shares of Mettler-Toledo International stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1,490.18, for a total transaction of $1,889,548.24. Following the completion of the sale, the director now owns 244 shares in the company, valued at approximately $363,603.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shawn Vadala sold 300 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1,210.83, for a total transaction of $363,249.00. Following the sale, the chief financial officer now directly owns 4,914 shares in the company, valued at $5,950,018.62. The disclosure for this sale can be found here. Insiders have sold 3,678 shares of company stock worth $5,288,061 in the last three months. Corporate insiders own 1.94% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in shares of Mettler-Toledo International by 32.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 984 shares of the medical instruments supplier's stock valued at $1,090,000 after buying an additional 241 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Mettler-Toledo International by 154.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 856 shares of the medical instruments supplier's stock worth $949,000 after acquiring an additional 520 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Mettler-Toledo International by 2.4% in the 3rd quarter. Raymond James & Associates now owns 4,262 shares of the medical instruments supplier's stock worth $4,723,000 after purchasing an additional 101 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Mettler-Toledo International by 8.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,336 shares of the medical instruments supplier's stock valued at $1,480,000 after purchasing an additional 100 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Mettler-Toledo International by 16.5% during the 3rd quarter. Assetmark Inc. now owns 233 shares of the medical instruments supplier's stock worth $258,000 after purchasing an additional 33 shares during the period. 95.07% of the stock is currently owned by hedge funds and other 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.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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.