Eqis Capital Management Inc. bought a new stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 472 shares of the medical instruments supplier’s stock, valued at approximately $455,000.
Several other institutional investors have also recently made changes to their positions in MTD. WCM Investment Management LLC raised its holdings in shares of Mettler-Toledo International by 4.9% during the second quarter. WCM Investment Management LLC now owns 1,312,870 shares of the medical instruments supplier’s stock valued at $1,057,583,000 after acquiring an additional 61,173 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Mettler-Toledo International by 91.1% during the second quarter. Nordea Investment Management AB now owns 100,296 shares of the medical instruments supplier’s stock valued at $78,220,000 after acquiring an additional 47,824 shares during the last quarter. FIL Ltd acquired a new stake in shares of Mettler-Toledo International in the second quarter valued at approximately $38,443,000. Goldman Sachs Group Inc. increased its holdings in shares of Mettler-Toledo International by 24.2% in the second quarter. Goldman Sachs Group Inc. now owns 215,212 shares of the medical instruments supplier’s stock valued at $173,364,000 after purchasing an additional 41,925 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its holdings in shares of Mettler-Toledo International by 561.7% in the third quarter. NN Investment Partners Holdings N.V. now owns 26,139 shares of the medical instruments supplier’s stock valued at $25,244,000 after purchasing an additional 22,189 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.
MTD has been the subject of several recent research reports. UBS Group cut Mettler-Toledo International from a “neutral” rating to a “sell” rating and increased their price target for the company from $770.00 to $880.00 in a report on Wednesday, October 7th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Mettler-Toledo International in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered Mettler-Toledo International from a “neutral” rating to an “underweight” rating and set a $880.00 price objective for the company. in a research report on Monday, September 28th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $756.55.
In related news, insider Gerry Keller sold 388 shares of Mettler-Toledo International stock in a transaction on Monday, November 9th. The stock was sold at an average price of $1,182.48, for a total value of $458,802.24. Following the completion of the transaction, the insider now directly owns 607 shares in the company, valued at $717,765.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shawn Vadala sold 1,114 shares of Mettler-Toledo International stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,182.48, for a total value of $1,317,282.72. Following the completion of the transaction, the chief financial officer now owns 5,231 shares of the company’s stock, valued at $6,185,552.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,004 shares of company stock valued at $3,552,170. 3.20% of the stock is currently owned by company insiders.
MTD opened at $1,147.60 on Friday. Mettler-Toledo International Inc. has a 52 week low of $579.40 and a 52 week high of $1,228.41. The business has a fifty day simple moving average of $1,064.00 and a 200-day simple moving average of $914.32. The firm has a market cap of $27.31 billion, a P/E ratio of 48.28, a P/E/G ratio of 4.48 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 2.55.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $7.02 EPS for the quarter, topping the consensus estimate of $6.02 by $1.00. Mettler-Toledo International had a return on equity of 138.77% and a net margin of 18.61%. The business had revenue of $807.36 million during the quarter, compared to analyst estimates of $749.04 million. During the same period last year, the business posted $5.77 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Mettler-Toledo International Inc. will post 23.25 earnings per share for the current year.
About Mettler-Toledo International
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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