Mettler-Toledo International (NYSE:MTD) Sets New 52-Week High - Should You Buy?

Key Points

• Mettler-Toledo hit a new 52-week high of $1,730.33 in mid-day trading, up from its previous close of $1,698.04.
• Analyst views are mixed: six analysts rate the stock a Buy, eight a Hold and one a Sell. The consensus rating is Hold, with an average price target of $1,469.15.
• CEO Patrick Kaltenbach sold 942 shares in August at an average price of $1,425, reducing his direct ownership by 17.37%.

Mettler-Toledo International, Inc. (NYSE:MTD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $1,730.33 and last traded at $1,719.0770, with a volume of 10,536 shares traded. The stock had previously closed at $1,698.04.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTD. Weiss Ratings raised Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Jefferies Financial Group increased 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 report on Friday, July 31st. Royal Bank Of Canada started coverage on Mettler-Toledo International in a research note on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 price target on the stock. Barclays lifted their price target on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Finally, Rothschild & Co Redburn started coverage on Mettler-Toledo International in a report on Wednesday, September 2nd. They set a "sell" rating and a $1,200.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Mettler-Toledo International presently has an average rating of "Hold" and an average price target of $1,469.15.

Mettler-Toledo International Trading Up 0.9%

The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12. The company has a 50 day simple moving average of $1,506.39 and a two-hundred day simple moving average of $1,342.11. The company has a market cap of $34.33 billion, a PE ratio of 38.49, a PEG ratio of 3.38 and a beta of 1.16.

Insider Activity at Mettler-Toledo International

In related news, CEO Patrick Kaltenbach sold 942 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Mettler-Toledo International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XXEC Inc. acquired a new stake in Mettler-Toledo International in the 2nd quarter worth approximately $77,044,000. BlackRock Inc. bought a new stake in Mettler-Toledo International during the second quarter worth approximately $2,404,713,000. Bank of New York Mellon Corp bought a new stake in Mettler-Toledo International during the second quarter worth approximately $762,553,000. Wellington Management Group LLP grew its holdings 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 purchasing an additional 413,547 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Mettler-Toledo International during the second quarter valued at approximately $240,817,000. Hedge funds and other 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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