Mettler-Toledo International (NYSE:MTD) Now Covered by Royal Bank Of Canada

Stock analysts at Royal Bank Of Canada began coverage on shares of Mettler-Toledo International (NYSE:MTD) in a report issued on Tuesday, Benzinga reports. The brokerage set a “sector perform” rating and a $1,515.00 price target on the medical instruments supplier’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 7.75% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Barclays raised their target price on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Jefferies Financial Group lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Wall Street Zen lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Citigroup reduced their price target on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,465.75.

Mettler-Toledo International Stock Up 0.5%

MTD opened at $1,405.98 on Tuesday. The stock has a fifty day moving average of $1,350.11 and a 200-day moving average of $1,274.33. The company has a market capitalization of $28.18 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.88 and a beta of 1.23. Mettler-Toledo International has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,525.17. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.78 by $0.68. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.09 EPS. On average, equities analysts expect that Mettler-Toledo International will post 47.35 EPS for the current year.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at approximately $6,384,000. The trade was a 17.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Vadala sold 2,240 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the completion of the sale, the chief financial officer owned 5,579 shares in the company, valued at $7,989,128. This trade represents a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,254 shares of company stock valued at $6,092,712 over the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTD. XXEC Inc. bought a new stake in Mettler-Toledo International during the second quarter valued at $77,044,000. California State Teachers Retirement System grew its holdings in Mettler-Toledo International by 114,807.7% in the second quarter. California State Teachers Retirement System now owns 35,100,865 shares of the medical instruments supplier’s stock worth $44,841,706,000 after purchasing an additional 35,070,318 shares during the period. BlackRock Inc. acquired a new position in shares of Mettler-Toledo International during the second quarter valued at about $2,404,713,000. Bank of New York Mellon Corp acquired a new stake in shares of Mettler-Toledo International in the 2nd quarter valued at about $762,553,000. Finally, Wellington Management Group LLP boosted its holdings in Mettler-Toledo International by 908.6% in the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock worth $586,459,000 after acquiring an additional 413,547 shares in 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 is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.