Mettler-Toledo International (NYSE:MTD) Announces Quarterly Earnings Results

Mettler-Toledo International (NYSE:MTD) issued its earnings results on Thursday. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.21, reports. The business had revenue of $954.54 million during the quarter, compared to analysts’ expectations of $941.93 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%.

Mettler-Toledo International Stock Performance

Shares of MTD traded down $101.49 during mid-day trading on Friday, reaching $1,310.03. The stock had a trading volume of 254,186 shares, compared to its average volume of 119,785. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 4.09 and a beta of 1.16. Mettler-Toledo International has a 12 month low of $953.28 and a 12 month high of $1,546.93. The business has a fifty day moving average of $1,398.01 and a 200 day moving average of $1,400.25.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

Several hedge funds have recently modified their holdings of MTD. Family Firm Inc. purchased a new stake in Mettler-Toledo International during the second quarter valued at $25,000. Blue Trust Inc. raised its stake in Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock valued at $34,000 after purchasing an additional 17 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Mettler-Toledo International during the third quarter valued at $37,000. Rothschild Investment LLC purchased a new stake in Mettler-Toledo International during the second quarter valued at $42,000. Finally, Itau Unibanco Holding S.A. bought a new position in Mettler-Toledo International during the second quarter valued at $42,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MTD shares. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Evercore ISI boosted their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1,363.75.

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.