Mettler-Toledo International (NYSE:MTD) Hits New 12-Month High - Here's What Happened

Key Points

• Mettler-Toledo International reached a new 52-week high, trading as high as $1,587.74 and closing near $1,564, with a market capitalization of approximately $31.62 billion.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, nine a Hold and one a Sell. The average price target is $1,459.54, below the recent trading price, although Barclays raised its target to $1,700.
• The company exceeded quarterly earnings expectations, reporting $11.46 in EPS versus the $10.78 consensus, while revenue rose 4.5% year over year to $1.03 billion. Insiders sold more than $6.09 million of stock in the last quarter.

Mettler-Toledo International, Inc. (NYSE:MTD - Get Free Report) hit a new 52-week high on Tuesday. The company traded as high as $1,587.74 and last traded at $1,564.2610, with a volume of 9,935 shares. The stock had previously closed at $1,563.01.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTD shares. Royal Bank Of Canada assumed coverage on Mettler-Toledo International in a report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price target for the company. Jefferies Financial Group boosted their price target 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. Rothschild & Co Redburn began coverage on Mettler-Toledo International in a report on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 price objective on the stock. Barclays increased their price objective on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Finally, Stifel Nicolaus lifted their target price on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Five 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, the stock has an average rating of "Hold" and an average target price of $1,459.54.

Mettler-Toledo International Price Performance

The company's fifty day moving average price is $1,427.15 and its 200 day moving average price is $1,304.23. The company has a market capitalization of $31.62 billion, a P/E ratio of 35.41, a PEG ratio of 3.10 and a beta of 1.19. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45.

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

Insider Buying and Selling

In other news, insider Gerry Keller sold 240 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the sale, the insider directly owned 259 shares in the company, valued at approximately $369,629.26. This represents a 48.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $600,650.97. Following the sale, the director directly owned 292 shares in the company, valued at approximately $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,254 shares of company stock worth $6,092,712 in the last quarter. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTD. Baldwin Wealth Partners LLC MA bought a new position in shares of Mettler-Toledo International in the 3rd quarter valued at $230,000. Wedmont Private Capital bought a new stake in shares of Mettler-Toledo International during the 3rd quarter worth $457,000. GAMMA Investing LLC lifted its position in shares of Mettler-Toledo International by 6.9% during the 3rd quarter. GAMMA Investing LLC now owns 647 shares of the medical instruments supplier's stock worth $978,000 after buying an additional 42 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Mettler-Toledo International by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 150 shares of the medical instruments supplier's stock valued at $227,000 after buying an additional 37 shares in the last quarter. Finally, Plan A Wealth LLC boosted its stake in Mettler-Toledo International by 1.9% in the third quarter. Plan A Wealth LLC now owns 373 shares of the medical instruments supplier's stock valued at $564,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Company Profile

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.

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.