Mettler-Toledo International Inc. (NYSE:MTD) Stock Position Raised by Brown Shipley& Co Ltd
Brown Shipley& Co Ltd lifted its position in Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 30,884.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,746 shares of the medical instruments supplier’s stock after acquiring an additional 7,721 shares during the quarter. Mettler-Toledo International makes up about 1.1% of Brown Shipley& Co Ltd’s holdings, making the stock its 29th biggest holding. Brown Shipley& Co Ltd’s holdings in Mettler-Toledo International were worth $2,257,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in MTD. Spears Abacus Advisors LLC increased its position in Mettler-Toledo International by 2.6% in the 1st quarter. Spears Abacus Advisors LLC now owns 318 shares of the medical instruments supplier’s stock worth $487,000 after purchasing an additional 8 shares during the last quarter. Lindbrook Capital LLC increased its position in Mettler-Toledo International by 26.7% in the 2nd quarter. Lindbrook Capital LLC now owns 38 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 8 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Mettler-Toledo International by 1.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the medical instruments supplier’s stock worth $472,000 after purchasing an additional 8 shares during the last quarter. Assetmark Inc. increased its position in Mettler-Toledo International by 7.9% in the 1st quarter. Assetmark Inc. now owns 123 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 9 shares during the last quarter. Finally, Eukles Asset Management increased its position in Mettler-Toledo International by 0.8% in the 2nd quarter. Eukles Asset Management now owns 1,113 shares of the medical instruments supplier’s stock worth $1,460,000 after purchasing an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.
Insider Activity
In related news, Director Roland D. Diggelmann purchased 315 shares of Mettler-Toledo International stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $1,026.54 per share, for a total transaction of $323,360.10. Following the transaction, the director now directly owns 405 shares of the company’s stock, valued at $415,748.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.
Mettler-Toledo International Price Performance
Shares of NYSE MTD traded down $9.50 during midday trading on Friday, hitting $1,090.52. The stock had a trading volume of 129,594 shares, compared to its average volume of 217,750. The company’s 50-day simple moving average is $1,050.23 and its 200 day simple moving average is $1,181.71. The firm has a market cap of $23.64 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 5.59 and a beta of 1.16. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,615.97.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last released its earnings results on Thursday, November 9th. The medical instruments supplier reported $9.80 EPS for the quarter, beating the consensus estimate of $9.63 by $0.17. The company had revenue of $942.46 million during the quarter, compared to analysts’ expectations of $947.10 million. Mettler-Toledo International had a negative return on equity of 1,852.05% and a net margin of 22.24%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $10.18 EPS. Equities analysts expect that Mettler-Toledo International Inc. will post 39.22 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have commented on MTD shares. TheStreet downgraded Mettler-Toledo International from a “b-” rating to a “c+” rating in a research report on Tuesday, August 15th. JPMorgan Chase & Co. dropped their target price on Mettler-Toledo International from $1,300.00 to $1,100.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. The Goldman Sachs Group dropped their target price on Mettler-Toledo International from $1,185.00 to $1,030.00 and set a “neutral” rating for the company in a report on Monday, November 13th. Wells Fargo & Company dropped their target price on Mettler-Toledo International from $1,520.00 to $1,300.00 and set an “overweight” rating for the company in a report on Monday, November 13th. Finally, Stifel Nicolaus dropped their target price on Mettler-Toledo International from $1,425.00 to $1,270.00 and set a “buy” rating for the company in a report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1,302.29.
View Our Latest Research Report on MTD
Mettler-Toledo International Profile (Free Report)
Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the United States 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, 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.
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