Mettler-Toledo International (NYSE:MTD) Sets New 12-Month High - What's Next?

Key Points

• Mettler-Toledo shares reached a new 52-week high, trading as high as $1,721 and closing around $1,716.97, up 1.1%. The company has a $34.14 billion market capitalization and trades at a forward-looking valuation of about 38 times earnings.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy, eight rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $1,469.15—below the current share price.
• 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. However, insiders sold 4,254 shares worth approximately $6.1 million during the last quarter.

Mettler-Toledo International, Inc. (NYSE:MTD - Get Free Report) shares reached a new 52-week high on Wednesday. The company traded as high as $1,721.00 and last traded at $1,716.9650, with a volume of 9,601 shares trading hands. The stock had previously closed at $1,685.32.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company upped their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Weiss Ratings raised Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Barclays boosted their target price on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Stifel Nicolaus upped their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, 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 research note on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Mettler-Toledo International currently has an average rating of "Hold" and a consensus price target of $1,469.15.

Mettler-Toledo International Trading Up 1.1%

The firm has a fifty day simple moving average of $1,477.21 and a two-hundred day simple moving average of $1,336.82. The stock has a market cap of $34.14 billion, a PE ratio of 38.36 and a beta of 1.19.

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 EPS for the quarter, topping analysts' consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the firm earned $10.09 EPS. Mettler-Toledo International's quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Mettler-Toledo International, Inc. will post 47.38 earnings per share for the current year.

Insider Activity

In other Mettler-Toledo International news, Director Thomas P. Salice sold 417 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the sale, the director directly owned 292 shares of the company's stock, valued at approximately $420,599.72. The trade was a 58.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Kaltenbach sold 942 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the completion of the transaction, the chief executive officer owned 4,480 shares of the company's stock, valued at approximately $6,384,000. The trade was a 17.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders 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

Several hedge funds and other institutional investors have recently made changes to their positions in MTD. North Dakota State Investment Board boosted its holdings in shares of Mettler-Toledo International by 1.0% during the 3rd quarter. North Dakota State Investment Board now owns 617 shares of the medical instruments supplier's stock valued at $932,000 after acquiring an additional 6 shares during the last quarter. Plan A Wealth LLC raised its holdings in shares of Mettler-Toledo International by 1.9% during the third quarter. Plan A Wealth LLC now owns 373 shares of the medical instruments supplier's stock valued at $564,000 after purchasing an additional 7 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Mettler-Toledo International by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,794 shares of the medical instruments supplier's stock valued at $4,222,000 after purchasing an additional 7 shares during the period. Torray Investment Partners LLC lifted its position in Mettler-Toledo International by 0.5% during the first quarter. Torray Investment Partners LLC now owns 1,677 shares of the medical instruments supplier's stock valued at $2,115,000 after purchasing an additional 8 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its position in Mettler-Toledo International by 2.2% during the third quarter. Frank Rimerman Advisors LLC now owns 372 shares of the medical instruments supplier's stock valued at $562,000 after purchasing an additional 8 shares during the period. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Company Profile

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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