Mettler Toledo (NYSE:MTD) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Mettler Toledo (NYSE:MTD) from a hold rating to a buy rating in a report issued on Wednesday, April 11th. They currently have $640.00 price objective on the medical instruments supplier’s stock.

According to Zacks, “Mettler-Toledo is benefiting from strong product pipeline. The acquisition of Biotix is helping the company gain access to indirect distribution channels with robust secondary brands. 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. Estimates have been stable lately ahead of the company’s Q4 earnings release. The company has a positive record of earnings surprises in recent quarters. However, seasonality, volatility in emerging market growth, foreign exchange risk and business concentration in China remain overhangs. In past one year, the stock has slightly underperformed the industry it belongs.”

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A number of other research firms also recently issued reports on MTD. Deutsche Bank boosted their target price on shares of Mettler Toledo from $600.00 to $630.00 and gave the company a hold rating in a research report on Thursday, March 1st. Morgan Stanley boosted their target price on shares of Mettler Toledo from $550.00 to $580.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Evercore ISI initiated coverage on shares of Mettler Toledo in a research report on Wednesday, January 3rd. They set an in-line rating and a $625.00 target price for the company. Robert W. Baird decreased their target price on shares of Mettler Toledo from $675.00 to $630.00 and set a neutral rating for the company in a research report on Friday, February 9th. Finally, Goldman Sachs downgraded shares of Mettler Toledo from a buy rating to a neutral rating in a research report on Monday, April 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Mettler Toledo presently has a consensus rating of Hold and a consensus price target of $641.00.



NYSE MTD opened at $576.76 on Wednesday. The firm has a market capitalization of $14,707.25, a price-to-earnings ratio of 32.83, a PEG ratio of 2.21 and a beta of 1.20. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.46. Mettler Toledo has a 12-month low of $487.71 and a 12-month high of $697.26.

Mettler Toledo (NYSE:MTD) last announced its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $5.97 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.04. The firm had revenue of $778.03 million for the quarter, compared to analyst estimates of $764.26 million. Mettler Toledo had a net margin of 13.80% and a return on equity of 94.54%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.28 earnings per share. sell-side analysts anticipate that Mettler Toledo will post 20.24 EPS for the current year.

In other news, EVP William P. Donnelly sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $612.35, for a total transaction of $3,674,100.00. Following the completion of the sale, the executive vice president now owns 4,500 shares of the company’s stock, valued at $2,755,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $605.20, for a total transaction of $181,560.00. Following the sale, the chief financial officer now directly owns 5,599 shares of the company’s stock, valued at approximately $3,388,514.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,268 shares of company stock valued at $17,497,059. Insiders own 4.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MTD. Renaissance Technologies LLC increased its stake in shares of Mettler Toledo by 201.0% during the fourth quarter. Renaissance Technologies LLC now owns 210,100 shares of the medical instruments supplier’s stock worth $130,161,000 after purchasing an additional 140,300 shares in the last quarter. First Manhattan Co. increased its stake in shares of Mettler Toledo by 98,611.4% during the fourth quarter. First Manhattan Co. now owns 86,866 shares of the medical instruments supplier’s stock worth $53,815,000 after purchasing an additional 86,778 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Mettler Toledo during the fourth quarter worth about $31,608,000. Public Employees Retirement System of Ohio increased its stake in shares of Mettler Toledo by 349.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 56,728 shares of the medical instruments supplier’s stock worth $35,144,000 after purchasing an additional 44,115 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Mettler Toledo by 23.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 226,432 shares of the medical instruments supplier’s stock worth $140,279,000 after purchasing an additional 43,665 shares in the last quarter. 92.46% of the stock is owned by institutional investors and hedge funds.

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About Mettler Toledo

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; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.

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