Mettler-Toledo International (NYSE:MTD) Shares Gap Up to $1,372.62

Mettler-Toledo International Inc. (NYSE:MTD)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1,372.62, but opened at $1,409.91. Mettler-Toledo International shares last traded at $1,376.91, with a volume of 13,266 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on MTD. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Citigroup lifted their target price on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a “sell” rating in a report on Monday, May 13th. Evercore ISI boosted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Stifel Nicolaus boosted their price target on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1,301.25.

Mettler-Toledo International Price Performance

The firm has a market cap of $29.49 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 3.61 and a beta of 1.17. The stock’s fifty day moving average price is $1,424.67 and its 200-day moving average price is $1,311.19.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. The business had revenue of $925.95 million during the quarter, compared to analyst estimates of $879.72 million. During the same quarter in the prior year, the firm earned $8.69 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mettler-Toledo International Inc. will post 40.13 earnings per share for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 300 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $7,510,705.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas P. Salice sold 1,268 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total transaction of $1,889,548.24. Following the transaction, the director now owns 244 shares of the company’s stock, valued at approximately $363,603.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at approximately $7,510,705.02. The disclosure for this sale can be found here. Insiders sold 3,278 shares of company stock valued at $4,871,849 over the last 90 days. 1.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors lifted its position in Mettler-Toledo International by 15.1% in the first quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock valued at $1,431,696,000 after buying an additional 141,431 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Mettler-Toledo International by 169.4% in the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after buying an additional 360,786 shares during the last quarter. Norges Bank acquired a new position in Mettler-Toledo International in the fourth quarter valued at about $320,847,000. PineStone Asset Management Inc. lifted its position in Mettler-Toledo International by 127.4% in the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after buying an additional 145,453 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Mettler-Toledo International by 2.8% in the first quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock valued at $330,169,000 after buying an additional 6,788 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.