Mettler-Toledo International (NYSE:MTD) Given New $1,390.00 Price Target at Evercore ISI

Mettler-Toledo International (NYSE:MTD) had its price target lifted by stock analysts at Evercore ISI from $1,375.00 to $1,390.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s target price would suggest a potential upside of 2.68% from the company’s previous close.

Several other brokerages have also issued reports on MTD. Jefferies Financial Group restated an “underperform” rating and issued a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Citigroup boosted their price objective 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. Robert W. Baird boosted 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 report on Monday, May 13th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus increased 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 research report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1,267.50.

Mettler-Toledo International Stock Down 0.2 %

NYSE MTD opened at $1,353.69 on Tuesday. Mettler-Toledo International has a 52 week low of $928.49 and a 52 week high of $1,535.86. The business’s fifty day simple moving average is $1,405.40 and its 200-day simple moving average is $1,296.35. The firm has a market cap of $28.91 billion, a PE ratio of 37.96, a P/E/G ratio of 3.75 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.61 by $1.28. The firm had revenue of $925.95 million for the quarter, compared to analyst estimates of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. Mettler-Toledo International’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $8.69 EPS. Research analysts expect that Mettler-Toledo International will post 40.13 EPS for the current year.

Insider Transactions at Mettler-Toledo International

In other news, insider Christian Magloth sold 1,100 shares of the 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 sale, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christian Magloth sold 1,100 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 734 shares in the company, valued at $1,079,691.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerry Keller sold 310 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $1,511.56, for a total transaction of $468,583.60. Following the sale, the insider now owns 6 shares in the company, valued at $9,069.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,278 shares of company stock valued at $4,871,849. 1.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Mettler-Toledo International

A number of large investors have recently made changes to their positions in the company. Capital International Investors increased its stake 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 purchasing an additional 141,431 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 360,786 shares during the last quarter. Morgan Stanley increased its stake in Mettler-Toledo International by 9.6% in the third 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 during the last quarter. Norges Bank purchased a new position in Mettler-Toledo International in the fourth quarter valued at approximately $320,847,000. Finally, Principal Financial Group Inc. increased its stake 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 purchasing an additional 6,788 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

About Mettler-Toledo International

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.