Mettler-Toledo International (NYSE:MTD) Reaches New 1-Year High - Here's Why

Key Points

• Mettler-Toledo shares reached a new 52-week high of $1,666.41 and were trading about 1.8% higher, giving the company a market capitalization of roughly $33.33 billion.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy, eight a Hold, and one a Sell. The average price target is $1,469.15, below the current trading level, although several firms recently raised their targets.
• 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. Meanwhile, insiders sold approximately $6.1 million of stock last quarter, while institutional investors own 95.07% of shares.

Shares of Mettler-Toledo International, Inc. (NYSE:MTD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $1,666.41 and last traded at $1,661.1280, with a volume of 20,703 shares changing hands. The stock had previously closed at $1,634.01.

Analyst Ratings Changes

Several research analysts have weighed in on MTD shares. Weiss Ratings upgraded Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Rothschild & Co Redburn initiated coverage on Mettler-Toledo International in a research note on Wednesday, September 2nd. They set a "sell" rating and a $1,200.00 price target for the company. Morgan Stanley increased their price target on Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. Barclays raised their price objective on shares of Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Finally, Jefferies Financial Group lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $1,469.15.

Mettler-Toledo International Trading Up 1.8%

The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The business has a fifty day simple moving average of $1,450.39 and a 200 day simple moving average of $1,319.57. The company has a market cap of $33.33 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 3.27 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping analysts' consensus estimates of $10.78 by $0.68. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations 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 business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $10.09 EPS. On average, equities analysts anticipate that Mettler-Toledo International, Inc. will post 47.37 EPS for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In related news, CFO Shawn Vadala sold 2,240 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the sale, the chief financial officer owned 5,579 shares in the company, valued at $7,989,128. This represents a 28.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Salice sold 417 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total value of $600,650.97. Following the completion of the transaction, the director directly owned 292 shares of the company's stock, valued at $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,254 shares of company stock worth $6,092,712 over the last quarter. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Mettler-Toledo International during the second quarter worth approximately $2,404,713,000. Bank of New York Mellon Corp purchased a new stake in Mettler-Toledo International during the second quarter valued at about $762,553,000. Wellington Management Group LLP grew its position in Mettler-Toledo International by 908.6% during 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 acquiring an additional 413,547 shares during the period. Amundi increased its stake in Mettler-Toledo International by 40.7% during the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier's stock worth $307,420,000 after acquiring an additional 69,620 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Mettler-Toledo International by 60.9% during the first quarter. Bank of America Corp DE now owns 207,286 shares of the medical instruments supplier's stock worth $261,429,000 after acquiring an additional 78,487 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 NYSE: MTD develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company's laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.

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