Mettler-Toledo International (NYSE:MTD) Stock Price Down 3.1% – Here’s What Happened

Shares of Mettler-Toledo International Inc. (NYSE:MTD) were down 3.1% during mid-day trading on Wednesday . The company traded as low as $1,403.03 and last traded at $1,408.33. Approximately 18,391 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 132,223 shares. The stock had previously closed at $1,453.40.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MTD shares. Stifel Nicolaus increased their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group raised their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Evercore ISI raised their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,363.75.

Mettler-Toledo International Stock Performance

The stock’s fifty day moving average is $1,425.08 and its 200 day moving average is $1,392.99. The stock has a market cap of $29.14 billion, a P/E ratio of 38.26, a P/E/G ratio of 4.24 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.65. The business had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $10.19 earnings per share. Equities research analysts predict that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now directly owns 734 shares of the company’s stock, valued at $1,044,459.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Mettler-Toledo International

Several institutional investors have recently bought and sold shares of MTD. PineStone Asset Management Inc. increased its holdings in Mettler-Toledo International by 127.4% during the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after buying an additional 145,453 shares during the period. Capital International Investors increased its holdings in Mettler-Toledo International by 15.1% during 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 buying an additional 141,431 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Mettler-Toledo International by 88.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier’s stock valued at $163,290,000 after buying an additional 57,509 shares during the period. TD Asset Management Inc increased its holdings in Mettler-Toledo International by 53.1% during the first quarter. TD Asset Management Inc now owns 154,381 shares of the medical instruments supplier’s stock valued at $205,526,000 after buying an additional 53,561 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Mettler-Toledo International by 32.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier’s stock valued at $199,777,000 after buying an additional 35,048 shares during the period. 95.07% of the stock is 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.