The Vanguard Group, Inc. recently announced the acquisition of new stake in Mettler-Toledo International Inc. (NYSE:MTD). The institutional investor has increased its shareholding in the Healthcare company by 0.42% to 2.45 million shares with purchase of 10160.0 shares. This fresh investment now brings its stake to 10.99% valued currently at $3.54 billion. In addition, Fundsmith LLP raised its holdings by 20387.0 to 0.78 million shares. And Capital Research & Management Co has lifted its position by 0.21% or 1266.0 shares – to 0.59 million shares.
With over 88716.0 Mettler-Toledo International Inc. (MTD) shares trading Tuesday and a closing price of $1534.75 on the day, the dollar volume was approximately $136.16 million. The shares have shown a positive half year performance of 24.75% and its price on 01/24/23 lost nearly -2.66%. Currently, there are 22.40M common shares owned by the public and among those 21.96M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for MTD have a consensus price objective of $1434.67. The analysts have set the share’s price value over the next 12 months at a high of $1700.00 and a low of $1284.00. The average price target is -8.23% below its recent price level and a downside to the estimated low will see the stock lose -19.53% over that period. But an upside of 9.72% will see the stock hit the forecast high price target while median target price for the stock is $1365.00.
Insiders at the company have transacted a total of 269 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 114,069 shares. Insider sales of the common stock occurred on 207 occasions, with total insider shares sold totaling 128,326 shares.
The top 3 mutual fund holders in Mettler-Toledo International Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 0.68 million shares of the company’s stock, all valued at over $980.05 million. The company sold 164.0 shares recently to bring their total holdings to about 3.04% of the shares outstanding. Vanguard Mid Cap Index Fund sold 8022.0 shares to see its total holdings shrink to 0.52 million shares valued at over $750.06 million and representing 2.33% of the shares outstanding. Vanguard 500 Index Fund sold 458.0 shares to bring its total holdings to over 0.52 million shares at a value of $744.86 million. Vanguard 500 Index Fund now owns shares totaling to 2.31% of the shares outstanding.
Shares of Mettler-Toledo International Inc. (NYSE: MTD) opened at $1,560.11, down -$16.57 from a prior closing price of $1576.68. However, the script later moved the day high at 1,571.92, down -2.66%. The company’s stock has a 5-day price change of 0.23% and 30.69% over the past three months. MTD shares are trading 6.18% year to date (YTD), with the 12-month market performance up to 5.24% higher. It has a 12-month low price of $1065.55 and touched a high of $1583.40 over the same period. MTD has an average intraday trading volume of 101.12K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.62%, 4.98%, and 18.55% respectively.
Institutional ownership of Mettler-Toledo International Inc. (NYSE: MTD) shares accounts for 96.40% of the company’s 22.40M shares outstanding. Mutual fund holders own 37.68%, while other institutional holders and individual stakeholders account for 58.99% and 3.16% respectively.
It has a market capitalization of $33.27B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 42.00, while the earnings-per-share (ttm) stands at $36.54. The company has a PEG of 3.41 and a Quick Ratio of 0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.68% over the week and 2.81% over the month.
Analysts forecast that Mettler-Toledo International Inc. (MTD) will achieve an EPS of $9.83 for the current quarter, $11.87 for the next quarter and $42.31 for 2023. The lowest estimate earnings-per-share for the quarter is $9.76 while analysts give the company a high EPS estimate of $10.05. Comparatively, EPS for the current quarter was $8.72 a year ago. Earnings per share for the fiscal year are expected to increase by 31.60%, and 9.28% over the next financial year. EPS should shrink at an annualized rate of 12.30% over the next five years, compared to 18.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Mettler-Toledo International Inc. (MTD) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 10 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MTD, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 19, 2022, with the firm’s price target at $1100-$1350. Goldman coverage for the Mettler-Toledo International Inc. (MTD) stock in a research note released on November 08, 2022 offered a Neutral rating with a price target of $1355. Stifel was of a view on September 06, 2022 that the stock is Buy, while UBS gave the stock Neutral rating on July 20, 2022, issuing a price target of $1237. Wells Fargo on their part issued Overweight rating on April 25, 2022.