Today, Mettler-Toledo International Inc. (MTD) Lowered to “Sell” at Zacks Investment Research

Today, Mettler-Toledo International Inc. (MTD) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Mettler-Toledo International Inc. (NYSE:MTD) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Mettler-Toledo is the world’s largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. The Company focuses on the high value-added segments of the weighing instruments market by providing solutions for specific applications. The Company also manufactures and sells certain related laboratory measurement instruments, with one of the top three market positions worldwide in titrators, thermal analysis systems, pH meters and lab reactors. “

MTD has been the subject of a number of other research reports. Citigroup Inc. lowered shares of Mettler-Toledo International from a buy rating to a neutral rating and upped their target price for the stock from $382.00 to $400.00 in a research report on Thursday, June 23rd. Bank of America Corp. upgraded shares of Mettler-Toledo International from a neutral rating to a buy rating and upped their target price for the stock from $404.33 to $470.00 in a research report on Wednesday, August 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Mettler-Toledo International from $350.00 to $400.00 and gave the stock a neutral rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Mettler-Toledo International currently has an average rating of Hold and an average target price of $378.38.

Mettler-Toledo International (NYSE:MTD) traded up 0.42% during mid-day trading on Wednesday, hitting $418.40. 35,898 shares of the stock traded hands. Mettler-Toledo International has a 12 month low of $282.05 and a 12 month high of $421.24. The company’s 50 day moving average is $405.73 and its 200 day moving average is $379.61. The company has a market cap of $11.08 billion, a P/E ratio of 32.31 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.13 by $0.09. The business earned $608.28 million during the quarter, compared to analyst estimates of $598.20 million. Mettler-Toledo International had a net margin of 14.74% and a return on equity of 68.23%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. On average, analysts expect that Mettler-Toledo International will post $14.45 earnings per share for the current fiscal year.

In related news, insider William P. Donnelly sold 10,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $403.23, for a total transaction of $4,032,300.00. Following the sale, the insider now owns 4,800 shares of the company’s stock, valued at $1,935,504. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas Caratsch sold 700 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $412.50, for a total transaction of $288,750.00. Following the sale, the insider now directly owns 1,470 shares in the company, valued at approximately $606,375. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in Mettler-Toledo International by 7.1% in the second quarter. Strs Ohio now owns 69,214 shares of the company’s stock worth $25,257,000 after buying an additional 4,597 shares during the last quarter. Ownership Capital B.V. increased its stake in Mettler-Toledo International by 1.2% in the second quarter. Ownership Capital B.V. now owns 153,520 shares of the company’s stock worth $56,023,000 after buying an additional 1,767 shares during the last quarter. Shell Asset Management Co. increased its stake in Mettler-Toledo International by 24.9% in the second quarter. Shell Asset Management Co. now owns 29,139 shares of the company’s stock worth $10,633,000 after buying an additional 5,802 shares during the last quarter. Capstone Asset Management Co. increased its stake in Mettler-Toledo International by 12.0% in the second quarter. Capstone Asset Management Co. now owns 3,737 shares of the company’s stock worth $1,364,000 after buying an additional 399 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in Mettler-Toledo International by 2.4% in the second quarter. Baillie Gifford & Co. now owns 636,715 shares of the company’s stock worth $232,350,000 after buying an additional 14,849 shares during the last quarter. 96.62% of the stock is currently owned by institutional investors.

About Mettler-Toledo International

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company is a provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a provider of analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes.

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