Mettler-Toledo International (NYSE:MTD) Sets New 52-Week High - Here's Why

Key Points

• Mettler-Toledo shares reached a new 52-week high of $1,585.72 and last traded at $1,552.22, supported by strong upward momentum above both the 50-day and 200-day moving averages.
• Recent quarterly results exceeded expectations: earnings per share came in at $11.46 versus the $10.78 consensus, while revenue rose 4.5% year over year to $1.03 billion.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $1,446.36, below the current share price. Meanwhile, insiders sold more than $6.0 million of stock over the past three months.

Shares of Mettler-Toledo International, Inc. (NYSE:MTD - Get Free Report) reached a new 52-week high on Tuesday. The stock traded as high as $1,585.72 and last traded at $1,552.22, with a volume of 6800 shares. The stock had previously closed at $1,541.63.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTD. Stifel Nicolaus lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Barclays raised their target price on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Morgan Stanley lifted their price target on shares of Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada initiated coverage on shares of Mettler-Toledo International in a report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 price target for the company. Finally, UBS Group initiated coverage on shares of Mettler-Toledo International in a research report on Wednesday, September 9th. They set a "neutral" rating and a $1,460.00 price objective for the company. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $1,446.36.

Mettler-Toledo International Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45. The company has a 50 day simple moving average of $1,413.54 and a 200 day simple moving average of $1,292.85. The stock has a market cap of $30.46 billion, a P/E ratio of 34.11, a PEG ratio of 2.98 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $10.09 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Andra AP fonden raised its stake in shares of Mettler-Toledo International by 125.6% during the 2nd quarter. Andra AP fonden now owns 9,123 shares of the medical instruments supplier's stock worth $11,655,000 after purchasing an additional 5,080 shares in the last quarter. Reynders McVeigh Capital Management LLC increased its holdings in Mettler-Toledo International by 9.2% during the second quarter. Reynders McVeigh Capital Management LLC now owns 827 shares of the medical instruments supplier's stock worth $1,057,000 after buying an additional 70 shares during the last quarter. National Pension Service increased its holdings in Mettler-Toledo International by 7.9% during the second quarter. National Pension Service now owns 39,696 shares of the medical instruments supplier's stock worth $50,712,000 after buying an additional 2,916 shares during the last quarter. WINTON GROUP Ltd raised its position in Mettler-Toledo International by 509.0% during the second quarter. WINTON GROUP Ltd now owns 4,141 shares of the medical instruments supplier's stock worth $5,290,000 after acquiring an additional 3,461 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Mettler-Toledo International by 4.2% in the second quarter. IFP Advisors Inc now owns 221 shares of the medical instruments supplier's stock valued at $282,000 after acquiring an additional 9 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

About Mettler-Toledo International

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.

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