Hsbc Holdings PLC increased its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 22.0% during the first quarter, Holdings Channel.com reports. The fund owned 92,415 shares of the medical instruments supplier’s stock after buying an additional 16,640 shares during the period. Hsbc Holdings PLC’s holdings in Mettler-Toledo International were worth $116,593,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of MTD. Nordea Investment Management AB grew its stake in Mettler-Toledo International by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 157,457 shares of the medical instruments supplier’s stock valued at $220,718,000 after acquiring an additional 16,777 shares during the period. M&T Bank Corp raised its position in Mettler-Toledo International by 2,813.6% during the fourth quarter. M&T Bank Corp now owns 124,205 shares of the medical instruments supplier’s stock worth $173,165,000 after acquiring an additional 119,942 shares during the period. Pensionfund Sabic acquired a new position in Mettler-Toledo International during the fourth quarter worth $1,255,000. Crossmark Global Holdings Inc. lifted its holdings in Mettler-Toledo International by 34.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,150 shares of the medical instruments supplier’s stock valued at $5,786,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Strs Ohio lifted its holdings in Mettler-Toledo International by 2,594.8% during the fourth quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier’s stock valued at $18,672,000 after purchasing an additional 12,896 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Stock Down 1.9%
Mettler-Toledo International stock opened at $1,310.09 on Friday. Mettler-Toledo International, Inc. has a 52-week low of $1,023.05 and a 52-week high of $1,525.17. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.74 and a beta of 1.24. The company has a fifty day simple moving average of $1,182.01 and a 200-day simple moving average of $1,282.74.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on MTD. Wall Street Zen cut shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mettler-Toledo International in a research note on Tuesday, July 7th. Citigroup lowered their price objective on Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Finally, Morgan Stanley reduced their target price on Mettler-Toledo International from $1,475.00 to $1,275.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1,408.55.
View Our Latest Analysis on MTD
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.
The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.
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