Nordea Investment Management AB lifted its holdings in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 10.2% in the third quarter, HoldingsChannel reports. The fund owned 140,680 shares of the medical instruments supplier’s stock after buying an additional 13,056 shares during the period. Nordea Investment Management AB’s holdings in Mettler-Toledo International were worth $167,419,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Focus Partners Wealth lifted its stake in Mettler-Toledo International by 85.6% in the first quarter. Focus Partners Wealth now owns 3,195 shares of the medical instruments supplier’s stock worth $3,774,000 after purchasing an additional 1,474 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Mettler-Toledo International by 83.3% in the first quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock worth $78,000 after buying an additional 30 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Mettler-Toledo International by 84.9% in the first quarter. Acadian Asset Management LLC now owns 2,513 shares of the medical instruments supplier’s stock worth $2,965,000 after buying an additional 1,154 shares during the period. Modern Wealth Management LLC bought a new stake in shares of Mettler-Toledo International in the 1st quarter valued at about $325,000. Finally, Parallel Advisors LLC boosted its holdings in Mettler-Toledo International by 37.2% during the 2nd quarter. Parallel Advisors LLC now owns 284 shares of the medical instruments supplier’s stock valued at $334,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Stock Down 0.5%
Shares of Mettler-Toledo International stock opened at $1,484.32 on Wednesday. The business has a 50 day moving average of $1,430.52 and a 200 day moving average of $1,333.44. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,525.17. The company has a market cap of $30.32 billion, a PE ratio of 37.02, a P/E/G ratio of 4.44 and a beta of 1.41.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on MTD shares. Evercore ISI lifted their price target on Mettler-Toledo International from $1,275.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Stifel Nicolaus raised their target price on shares of Mettler-Toledo International from $1,450.00 to $1,600.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their target price on shares of Mettler-Toledo International from $1,400.00 to $1,450.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Citigroup upped their price target on shares of Mettler-Toledo International from $1,600.00 to $1,700.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, December 9th. They set a “neutral” rating and a $1,475.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,441.67.
Check Out Our Latest Research Report on MTD
Insider Activity
In other Mettler-Toledo International news, insider La Guerroniere Marc De sold 6,055 shares of Mettler-Toledo International stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $1,488.18, for a total transaction of $9,010,929.90. Following the sale, the insider directly owned 187 shares of the company’s stock, valued at approximately $278,289.66. The trade was a 97.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerry Keller sold 236 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $1,418.58, for a total value of $334,784.88. Following the transaction, the insider owned 159 shares in the company, valued at $225,554.22. This trade represents a 59.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 19,565 shares of company stock worth $28,683,737. 0.77% of the stock is owned by company insiders.
About Mettler-Toledo International
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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