Mettler-Toledo International (NYSE:MTD) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of Mettler-Toledo International (NYSE:MTD) from a buy rating to a neutral rating in a research note issued to investors on Thursday, January 3rd, Marketbeat.com reports. They currently have $546.04 price target on the medical instruments supplier’s stock.

A number of other analysts have also recently commented on MTD. 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. ValuEngine upgraded shares of Mettler-Toledo International from a hold rating to a buy rating in a research report on Friday, November 16th. Evercore ISI cut shares of Mettler-Toledo International from an in-line rating to an underperform rating in a research report on Thursday, January 3rd. UBS Group assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, October 9th. They issued a neutral rating and a $625.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Mettler-Toledo International from $529.00 to $572.00 and gave the company an equal weight rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Mettler-Toledo International presently has an average rating of Hold and an average target price of $612.01.

Shares of Mettler-Toledo International stock opened at $576.96 on Thursday. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. Mettler-Toledo International has a 52 week low of $500.74 and a 52 week high of $697.26. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.39 and a quick ratio of 1.00.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, November 8th. The medical instruments supplier reported $5.12 EPS for the quarter, beating the consensus estimate of $4.99 by $0.13. Mettler-Toledo International had a net margin of 14.10% and a return on equity of 93.15%. The company had revenue of $734.85 million during the quarter, compared to analysts’ expectations of $738.23 million. During the same quarter in the previous year, the company posted $4.36 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Mettler-Toledo International will post 20.23 EPS for the current year.

In other Mettler-Toledo International news, Director Hans Ulrich Maerki sold 2,600 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $650.00, for a total transaction of $1,690,000.00. Following the completion of the transaction, the director now owns 9,487 shares in the company, valued at approximately $6,166,550. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider La Guerroniere Marc De sold 6,245 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $642.79, for a total value of $4,014,223.55. Following the transaction, the insider now owns 6,245 shares of the company’s stock, valued at approximately $4,014,223.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,295 shares of company stock valued at $18,029,675. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MTD. Moody National Bank Trust Division acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth about $68,000. Captrust Financial Advisors boosted its stake in shares of Mettler-Toledo International by 306.7% during the 2nd quarter. Captrust Financial Advisors now owns 183 shares of the medical instruments supplier’s stock worth $106,000 after buying an additional 138 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $110,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Mettler-Toledo International by 143.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180 shares of the medical instruments supplier’s stock worth $110,000 after buying an additional 106 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Mettler-Toledo International by 603.7% during the 3rd quarter. IFP Advisors Inc now owns 190 shares of the medical instruments supplier’s stock worth $116,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 93.77% of the company’s stock.

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; 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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