Mettler-Toledo International (MTD) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS
Mettler-Toledo International (NYSE:MTD) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $5.12 EPS for the quarter, beating the 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 return on equity of 90.80% and a net margin of 13.52%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $4.36 EPS.
Shares of MTD traded up $12.72 during mid-day trading on Friday, hitting $608.03. The company’s stock had a trading volume of 446,389 shares, compared to its average volume of 181,918. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.46 and a quick ratio of 1.06. The stock has a market capitalization of $14.94 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.38 and a beta of 1.15. Mettler-Toledo International has a 1-year low of $521.79 and a 1-year high of $697.26.
In related news, insider William P. Donnelly sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $571.50, for a total value of $571,500.00. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $1,143,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $590.00, for a total value of $177,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,599 shares of the company’s stock, valued at $3,303,410. The disclosure for this sale can be found here. Insiders sold a total of 14,858 shares of company stock valued at $8,681,504 over the last ninety days. 4.80% of the stock is currently owned by company insiders.
MTD has been the subject of several recent analyst reports. Zacks Investment Research raised Mettler-Toledo International from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Morgan Stanley raised their price target on Mettler-Toledo International from $529.00 to $572.00 and gave the company an “equal weight” rating in a report on Wednesday, October 10th. JPMorgan Chase & Co. raised their price target on Mettler-Toledo International from $550.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, UBS Group initiated coverage on Mettler-Toledo International in a report on Tuesday, October 9th. They issued a “neutral” rating and a $625.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $624.00.
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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