Mettler-Toledo International (NYSE:MTD) Upgraded to “Buy” at Citigroup

Mettler-Toledo International (NYSE:MTD) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $1,400.00 target price on the medical instruments supplier’s stock. Citigroup’s price target indicates a potential upside of 36.99% from the company’s previous close.

MTD has been the topic of several other research reports. Robert W. Baird upped their target price on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Wells Fargo & Company raised their price target on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Wolfe Research assumed coverage on Mettler-Toledo International in a report on Friday, December 13th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI increased their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1,380.50.

Mettler-Toledo International Stock Performance

MTD opened at $1,021.97 on Monday. The company has a market cap of $21.30 billion, a P/E ratio of 25.22, a PEG ratio of 3.30 and a beta of 1.28. Mettler-Toledo International has a one year low of $1,000.72 and a one year high of $1,546.93. The business’s 50-day simple moving average is $1,264.13 and its 200-day simple moving average is $1,293.69.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. As a group, analysts predict that Mettler-Toledo International will post 42.71 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christian Magloth sold 790 shares of Mettler-Toledo International stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now owns 734 shares of the company’s stock, valued at approximately $964,248.46. The trade was a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerry Keller sold 600 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the transaction, the insider now owns 6 shares in the company, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mettler-Toledo International

Several hedge funds and other institutional investors have recently made changes to their positions in MTD. SBI Securities Co. Ltd. acquired a new position in Mettler-Toledo International during the 4th quarter valued at $33,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Mettler-Toledo International during the fourth quarter valued at about $44,000. Blue Trust Inc. raised its position in shares of Mettler-Toledo International by 70.8% during the fourth quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 17 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at about $54,000. Finally, Sound Income Strategies LLC grew its position in Mettler-Toledo International by 4,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier’s stock worth $56,000 after buying an additional 45 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Company Profile

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.