Mettler-Toledo International (MTD) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Mettler-Toledo International (NYSE:MTD) released its quarterly earnings data on Thursday. The medical instruments supplier reported $5.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.99 by $0.13, Briefing.com reports. The business had revenue of $734.85 million during the quarter, compared to analysts’ expectations of $738.23 million. Mettler-Toledo International had a net margin of 13.52% and a return on equity of 90.80%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.36 EPS.

MTD traded up $12.72 on Friday, reaching $608.03. The company had a trading volume of 446,389 shares, compared to its average volume of 181,918. Mettler-Toledo International has a 1 year low of $521.79 and a 1 year high of $697.26. The stock has a market cap of $14.94 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.46 and a quick ratio of 1.06.

MTD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Morgan Stanley decreased their price objective on shares of Mettler-Toledo International from $568.00 to $540.00 and set an “equal weight” rating for the company in a research report on Friday, July 13th. UBS Group initiated coverage on shares of Mettler-Toledo International in a research report on Tuesday, October 9th. They set a “neutral” rating and a $625.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mettler-Toledo International from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $624.00.

In related news, insider William P. Donnelly sold 1,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $571.50, for a total value of $571,500.00. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $1,143,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider La Guerroniere Marc De sold 4,609 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $580.37, for a total transaction of $2,674,925.33. Following the completion of the sale, the insider now directly owns 4,609 shares of the company’s stock, valued at $2,674,925.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,858 shares of company stock valued at $8,681,504. 4.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC World Markets Inc. raised its holdings in shares of Mettler-Toledo International by 3.9% in the third quarter. CIBC World Markets Inc. now owns 4,219 shares of the medical instruments supplier’s stock valued at $2,569,000 after buying an additional 159 shares during the last quarter. FIL Ltd raised its holdings in shares of Mettler-Toledo International by 24.8% in the third quarter. FIL Ltd now owns 23,550 shares of the medical instruments supplier’s stock valued at $14,341,000 after buying an additional 4,678 shares during the last quarter. American International Group Inc. raised its holdings in shares of Mettler-Toledo International by 5.4% in the third quarter. American International Group Inc. now owns 8,904 shares of the medical instruments supplier’s stock valued at $5,422,000 after buying an additional 460 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Mettler-Toledo International by 18.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,158 shares of the medical instruments supplier’s stock valued at $3,142,000 after buying an additional 810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mettler-Toledo International by 13.2% in the third quarter. Bank of New York Mellon Corp now owns 363,632 shares of the medical instruments supplier’s stock valued at $221,445,000 after buying an additional 42,392 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

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Mettler-Toledo International Company Profile

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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Earnings History for Mettler-Toledo International (NYSE:MTD)

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