Mettler-Toledo International, Inc. (MTD) Downgraded by Zacks Investment Research to Hold

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

According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. The company reported better-than-expected second-quarter 2017 results, surpassing the Zacks Consensus Estimate on earnings and revenues. The results were driven by strong growth across all product lines and regions. The company’s growth initiatives-Field Turbo investments, marketing initiatives, Spinnaker sales and new product launches – continued to deliver positive results. We remain positive about Mettler-Toledo’s leading market position, focus on product development and cost reduction, sales and marketing efforts and operational excellence programs. The company is expected to benefit from strong growth prospects in product inspection and services. However, seasonality, volatility in emerging market growth, foreign exchange risk and business concentration in China remain overhangs. Year to date, the stock has outperformed the industry it belongs.”

A number of other research analysts also recently issued reports on MTD. BidaskClub upgraded Mettler-Toledo International from a hold rating to a buy rating in a research note on Monday, August 14th. Jefferies Group LLC restated a hold rating and issued a $550.00 price objective on shares of Mettler-Toledo International in a research note on Thursday, July 27th. Morgan Stanley restated an equal weight rating and issued a $565.00 price objective (up previously from $533.00) on shares of Mettler-Toledo International in a research note on Saturday, July 22nd. Wells Fargo & Company upgraded Mettler-Toledo International from a market perform rating to an outperform rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation upped their price objective on Mettler-Toledo International from $590.00 to $630.00 and gave the company a buy rating in a research note on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $574.00.

Shares of Mettler-Toledo International (MTD) opened at 626.00 on Wednesday. Mettler-Toledo International has a one year low of $395.61 and a one year high of $629.63. The firm has a market cap of $16.07 billion, a P/E ratio of 38.49 and a beta of 1.11. The firm’s 50-day moving average price is $592.34 and its 200 day moving average price is $554.17.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.03. The firm had revenue of $653.70 million during the quarter, compared to the consensus estimate of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 EPS. Analysts predict that Mettler-Toledo International will post $17.33 EPS for the current year.

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In other news, Director Thomas P. Salice sold 890 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $611.00, for a total transaction of $543,790.00. Following the transaction, the director now owns 62,437 shares of the company’s stock, valued at approximately $38,149,007. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William P. Donnelly sold 2,845 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $576.92, for a total value of $1,641,337.40. Following the transaction, the insider now directly owns 2,345 shares in the company, valued at approximately $1,352,877.40. The disclosure for this sale can be found here. Insiders have sold a total of 27,356 shares of company stock worth $16,150,829 in the last ninety days. Insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MTD. Israel Discount Bank of New York purchased a new position in shares of Mettler-Toledo International during the 1st quarter valued at $102,000. First Personal Financial Services lifted its position in shares of Mettler-Toledo International by 2.8% during the 2nd quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock valued at $109,000 after buying an additional 5 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Mettler-Toledo International by 2,585.7% during the 2nd quarter. Sun Life Financial INC now owns 188 shares of the medical instruments supplier’s stock valued at $111,000 after buying an additional 181 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Mettler-Toledo International during the 2nd quarter valued at $118,000. Finally, TLP Group LLC purchased a new position in shares of Mettler-Toledo International during the 1st quarter valued at $144,000. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.

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