Mettler-Toledo International (NYSE:MTD) Given New $640.00 Price Target at Barclays

Mettler-Toledo International (NYSE:MTD) had its target price cut by Barclays from $680.00 to $640.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the medical instruments supplier’s stock.

Separately, ValuEngine cut Mettler-Toledo International from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of Sell and an average target price of $735.33.

Shares of MTD traded up $15.73 during mid-day trading on Wednesday, reaching $688.10. The company had a trading volume of 170,424 shares, compared to its average volume of 171,040. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.98 and a current ratio of 1.39. The firm has a 50-day moving average price of $682.68 and a 200 day moving average price of $739.35. Mettler-Toledo International has a 52 week low of $500.74 and a 52 week high of $873.51. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.16 and a beta of 1.37.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.07. Mettler-Toledo International had a return on equity of 98.65% and a net margin of 18.45%. The firm had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $736.23 million. During the same period in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Mettler-Toledo International will post 22.71 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Mettler-Toledo International by 7.4% in the 2nd quarter. BlackRock Inc. now owns 1,858,924 shares of the medical instruments supplier’s stock valued at $1,561,497,000 after acquiring an additional 128,157 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Mettler-Toledo International by 13,959.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 115,709 shares of the medical instruments supplier’s stock valued at $97,195,000 after acquiring an additional 114,886 shares in the last quarter. FMR LLC lifted its position in Mettler-Toledo International by 2.4% in the 1st quarter. FMR LLC now owns 2,370,745 shares of the medical instruments supplier’s stock valued at $1,714,049,000 after acquiring an additional 56,298 shares in the last quarter. WCM Investment Management LLC lifted its position in Mettler-Toledo International by 3.5% in the 2nd quarter. WCM Investment Management LLC now owns 1,548,699 shares of the medical instruments supplier’s stock valued at $1,300,908,000 after acquiring an additional 52,874 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Mettler-Toledo International by 368.6% in the 2nd quarter. Janus Henderson Group PLC now owns 57,644 shares of the medical instruments supplier’s stock valued at $48,416,000 after acquiring an additional 45,343 shares in the last quarter. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.

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