Mettler-Toledo International (NYSE:MTD) Upgraded by Evercore ISI to Outperform Rating

Mettler-Toledo International (NYSE:MTD) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $1,450.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $1,375.00. Evercore ISI’s target price points to a potential upside of 18.50% from the company’s previous close.

Several other brokerages have also recently issued reports on MTD. Robert W. Baird lowered their price target on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Wolfe Research started coverage on shares of Mettler-Toledo International in a research report on Friday, December 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Stifel Nicolaus dropped their target price on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Citigroup upgraded shares of Mettler-Toledo International from a “sell” rating to a “neutral” rating and raised their target price for the stock from $1,200.00 to $1,300.00 in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,351.25.

Mettler-Toledo International Stock Up 0.3 %

Mettler-Toledo International stock opened at $1,223.68 on Thursday. The firm has a 50-day moving average price of $1,259.52 and a two-hundred day moving average price of $1,358.61. The firm has a market capitalization of $25.82 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 4.21 and a beta of 1.13. Mettler-Toledo International has a 52-week low of $1,115.64 and a 52-week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. The business had revenue of $954.54 million for the quarter, compared to analysts’ expectations of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. Research analysts expect that Mettler-Toledo International will post 40.42 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gerry Keller sold 140 shares of Mettler-Toledo International stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1,254.09, for a total transaction of $175,572.60. Following the completion of the sale, the insider now owns 6 shares of the company’s stock, valued at approximately $7,524.54. This trade represents a 95.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the transaction, the director now directly owns 240 shares in the company, valued at approximately $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Mettler-Toledo International

Several large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in Mettler-Toledo International by 1.0% in the third quarter. State Street Corp now owns 954,653 shares of the medical instruments supplier’s stock valued at $1,431,693,000 after acquiring an additional 9,009 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Mettler-Toledo International by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 547,439 shares of the medical instruments supplier’s stock valued at $818,906,000 after purchasing an additional 4,166 shares during the last quarter. Barclays PLC boosted its holdings in Mettler-Toledo International by 8.3% in the third quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier’s stock worth $384,822,000 after purchasing an additional 19,609 shares in the last quarter. JPMorgan Chase & Co. increased its position in Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock worth $332,634,000 after buying an additional 28,478 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Mettler-Toledo International by 1.8% during the third quarter. Loomis Sayles & Co. L P now owns 209,902 shares of the medical instruments supplier’s stock valued at $314,790,000 after buying an additional 3,644 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

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.