JP Morgan has maintained a Neutral recommendation for global precision measuring instruments manufacturer, Mettler-Toledo International (NYSE:MTD), projecting a potential 30.01% increase in the company's stock price over the next year. The firm set an average one-year price target of $1,374.14 for Mettler-Toledo, up from its last reported closing price of $1,056.97, with a forecast range of $1,111.00 to $1,597.05.
The number of funds or institutions holding positions in Mettler-Toledo has seen a decrease in the past quarter. The count dropped by 37 to 1552, with the average portfolio weight dedicated to MTD falling by 13.86%. Despite this, total institutional shares have slightly risen by 0.26% to 23,943K shares in the last three months. The put/call ratio currently stands at 0.80.
In terms of shareholder changes, WCM Investment Management reduced its shares by 0.22% and cut its portfolio allocation by 17.97%. Similarly, Vanguard Total Stock Market Index Fund Investor Shares and Capital International Investors increased their shares by 0.23% and 9.46%, respectively, but reduced their portfolio allocations by 20.73% and 11.21%. Fundsmith LLP and Vanguard 500 Index Fund Investor Shares also followed this trend, increasing their shares by 1.36% and 1.62%, but reducing their portfolio allocations by 15.51% and 21.08%.
Mettler-Toledo's projected annual revenue stands at $3,997 million, indicating a modest 1.08% increase, with a non-GAAP EPS of 42.77.
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