Wells Fargo & Company Forecasts Strong Price Appreciation for Mettler-Toledo International (NYSE:MTD) Stock

Mettler-Toledo International (NYSE:MTD - Free Report) had its price target hoisted by Wells Fargo & Company from $1,125.00 to $1,200.00 in a report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the medical instruments supplier's stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and cut their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Evercore ISI raised their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Robert W. Baird decreased their target price on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $1,296.13.

Mettler-Toledo International Stock Performance

Shares of MTD stock traded down $21.67 on Monday, reaching $1,079.96. 133,782 shares of the company were exchanged, compared to its average volume of 146,802. Mettler-Toledo International has a 1 year low of $946.69 and a 1 year high of $1,546.93. The business has a 50-day moving average price of $1,118.64 and a 200 day moving average price of $1,223.63. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 3.30 and a beta of 1.40.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.29. The business had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The business's quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $8.89 earnings per share. As a group, equities analysts anticipate that Mettler-Toledo International will post 42.71 earnings per share for the current year.

Insider Activity

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the sale, the insider now directly owns 734 shares of the company's stock, valued at approximately $964,248.46. This represents a 51.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gerry Keller sold 600 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the transaction, the insider now owns 6 shares of the company's stock, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Hedge Funds Weigh In On Mettler-Toledo International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Mettler-Toledo International by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier's stock valued at $332,634,000 after buying an additional 28,478 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Mettler-Toledo International by 367.4% during the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier's stock worth $285,000 after purchasing an additional 169 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Mettler-Toledo International by 29.8% during the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier's stock worth $129,919,000 after purchasing an additional 24,285 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Mettler-Toledo International by 18.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,370 shares of the medical instruments supplier's stock valued at $42,058,000 after purchasing an additional 5,234 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Mettler-Toledo International by 773.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,336 shares of the medical instruments supplier's stock valued at $6,530,000 after purchasing an additional 4,725 shares during the period. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.