Mettler-Toledo International, Inc. (MTD) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. lifted its holdings in Mettler-Toledo International, Inc. (NYSE:MTD) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,621,389 shares of the medical instruments supplier’s stock after acquiring an additional 74,156 shares during the period. Vanguard Group Inc. owned approximately 10.21% of Mettler-Toledo International worth $1,542,792,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. First Personal Financial Services raised its position in shares of Mettler-Toledo International by 2.8% in the 2nd quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Mettler-Toledo International in the 2nd quarter worth about $118,000. Israel Discount Bank of New York bought a new position in shares of Mettler-Toledo International in the 1st quarter worth about $102,000. TLP Group LLC bought a new position in shares of Mettler-Toledo International in the 1st quarter worth about $144,000. Finally, CAPROCK Group Inc. bought a new position in shares of Mettler-Toledo International in the 2nd quarter worth about $205,000. 93.18% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on MTD. Wells Fargo & Company raised Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 12th. BidaskClub raised Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $665.00 price objective for the company in a research report on Wednesday, June 7th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $575.20.
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Mettler-Toledo International, Inc. (MTD) opened at 632.86 on Friday. The stock has a 50 day moving average price of $595.61 and a 200 day moving average price of $557.43. Mettler-Toledo International, Inc. has a 52-week low of $394.49 and a 52-week high of $636.54. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 38.92 and a beta of 1.11.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, beating the consensus estimate of $3.89 by $0.03. The firm had revenue of $653.70 million during the quarter, compared to the consensus estimate of $646.68 million. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.22 earnings per share. Equities research analysts forecast that Mettler-Toledo International, Inc. will post $17.33 earnings per share for the current year.
In related news, insider William P. Donnelly sold 2,845 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $576.92, for a total value of $1,641,337.40. Following the completion of the transaction, the insider now directly owns 2,345 shares of the company’s stock, valued at $1,352,877.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shawn Vadala sold 1,500 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $577.00, for a total transaction of $865,500.00. Following the completion of the transaction, the chief financial officer now directly owns 6,525 shares of the company’s stock, valued at $3,764,925. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,356 shares of company stock valued at $16,150,829. Insiders own 5.20% of the company’s stock.
Mettler-Toledo International Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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