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

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Evercore ISI lifted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company assumed coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Mettler-Toledo International has a consensus rating of “Hold” and a consensus target price of $1,363.75.

Mettler-Toledo International Stock Down 2.9 %

The company has a market capitalization of $29.14 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 4.24 and a beta of 1.14. The business’s 50-day moving average is $1,425.08 and its 200-day moving average is $1,392.99.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. The company 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% on a year-over-year basis. During the same period in the previous year, the firm posted $10.19 earnings per share. As a group, analysts expect that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Insider Activity at Mettler-Toledo International

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 17 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new stake in shares of Mettler-Toledo International during the third quarter worth about $247,000. M3 Advisory Group LLC purchased a new stake in shares of Mettler-Toledo International during the third quarter worth about $234,000. V Square Quantitative Management LLC increased its stake in shares of Mettler-Toledo International by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 505 shares of the medical instruments supplier’s stock worth $757,000 after purchasing an additional 20 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Mettler-Toledo International by 7.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,233 shares of the medical instruments supplier’s stock worth $3,349,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

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.