Evercore ISI Boosts Mettler-Toledo International (NYSE:MTD) Price Target to $1,390.00

Mettler-Toledo International (NYSE:MTD) had its target price hoisted by Evercore ISI from $1,375.00 to $1,390.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the medical instruments supplier’s stock.

Several other research firms have also issued reports on MTD. Stifel Nicolaus upped their target price on 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. StockNews.com raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research note on Monday, April 29th. Citigroup boosted their target price on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a sell rating in a report on Monday, May 13th. Robert W. Baird lifted their price objective on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a neutral rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group reaffirmed an underperform rating and issued a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $1,267.50.

Mettler-Toledo International Stock Performance

NYSE:MTD opened at $1,354.10 on Tuesday. The company has a market cap of $28.92 billion, a PE ratio of 37.97, a PEG ratio of 3.64 and a beta of 1.17. The stock has a 50-day simple moving average of $1,407.76 and a 200 day simple moving average of $1,296.75. Mettler-Toledo International has a 52-week low of $928.49 and a 52-week high of $1,535.86.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $925.95 million during the quarter, compared to analysts’ expectations of $879.72 million. During the same period last year, the business earned $8.69 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts predict that Mettler-Toledo International will post 40.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 300 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the transaction, the chief financial officer now owns 4,914 shares in the company, valued at $7,160,041.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christian Magloth sold 1,100 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,079,691.98. The disclosure for this sale can be found here. Insiders sold 3,278 shares of company stock worth $4,871,849 over the last three months. Insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Mettler-Toledo International

A number of hedge funds have recently added to or reduced their stakes in MTD. Capital International Investors increased its position in shares of 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 worth $1,431,696,000 after purchasing an additional 141,431 shares during the period. Bank of New York Mellon Corp lifted its stake in Mettler-Toledo International by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock worth $763,764,000 after purchasing an additional 360,786 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Mettler-Toledo International by 9.6% in the 3rd quarter. Morgan Stanley now owns 267,167 shares of the medical instruments supplier’s stock valued at $296,041,000 after purchasing an additional 23,305 shares in the last quarter. Norges Bank bought a new position in shares of Mettler-Toledo International in the 4th quarter valued at $320,847,000. Finally, Principal Financial Group Inc. lifted its position in shares of Mettler-Toledo International by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock worth $330,169,000 after buying an additional 6,788 shares during the last quarter. Institutional investors 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.