Mettler-Toledo International, Inc. $MTD Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 71.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 904,264 shares of the medical instruments supplier’s stock after buying an additional 376,419 shares during the period. Bank of New York Mellon Corp’s holdings in Mettler-Toledo International were worth $1,062,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTD. Bank of Montreal Can increased its position in shares of Mettler-Toledo International by 5.4% in the 2nd quarter. Bank of Montreal Can now owns 25,937 shares of the medical instruments supplier’s stock valued at $30,469,000 after purchasing an additional 1,337 shares during the last quarter. South Dakota Investment Council acquired a new stake in Mettler-Toledo International during the 2nd quarter worth $117,000. Tredje AP fonden boosted its stake in Mettler-Toledo International by 9.8% during the 2nd quarter. Tredje AP fonden now owns 1,872 shares of the medical instruments supplier’s stock worth $2,199,000 after purchasing an additional 167 shares during the period. Plato Investment Management Ltd boosted its stake in Mettler-Toledo International by 38.5% during the 2nd quarter. Plato Investment Management Ltd now owns 1,524 shares of the medical instruments supplier’s stock worth $1,784,000 after purchasing an additional 424 shares during the period. Finally, Creekmur Asset Management LLC boosted its stake in Mettler-Toledo International by 33.9% during the 2nd quarter. Creekmur Asset Management LLC now owns 407 shares of the medical instruments supplier’s stock worth $478,000 after purchasing an additional 103 shares during the period. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

Shares of NYSE MTD opened at $1,418.13 on Monday. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,454.68. The company has a 50-day simple moving average of $1,306.50 and a 200-day simple moving average of $1,223.27. The company has a market cap of $29.21 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 4.19 and a beta of 1.37.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share for the quarter, beating analysts’ consensus estimates of $9.58 by $0.51. The firm had revenue of $983.22 million for the quarter, compared to analysts’ expectations of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. Mettler-Toledo International’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $9.65 earnings per share. On average, analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $1,254.09, for a total transaction of $376,227.00. Following the transaction, the chief financial officer directly owned 5,095 shares of the company’s stock, valued at approximately $6,389,588.55. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas P. Salice sold 1,062 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $1,300.90, for a total transaction of $1,381,555.80. Following the transaction, the director directly owned 283 shares in the company, valued at approximately $368,154.70. The trade was a 78.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,827 shares of company stock valued at $2,371,208 over the last ninety days. Corporate insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of Mettler-Toledo International from $1,260.00 to $1,390.00 and gave the stock a “neutral” rating in a research note on Monday, September 22nd. Citigroup raised their target price on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Mettler-Toledo International in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Mettler-Toledo International from $1,200.00 to $1,285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, Robert W. Baird raised their target price on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Mettler-Toledo International presently has an average rating of “Hold” and an average price target of $1,336.50.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company’s laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.