Quantitative Investment Management LLC Purchases New Shares in Mettler-Toledo International, Inc. $MTD

Quantitative Investment Management LLC purchased a new position in Mettler-Toledo International, Inc. (NYSE:MTD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,358 shares of the medical instruments supplier’s stock, valued at approximately $3,012,000.

Other institutional investors have also added to or reduced their stakes in the company. XXEC Inc. bought a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at $77,044,000. BlackRock Inc. bought a new position in shares of Mettler-Toledo International in the 2nd quarter worth about $2,404,713,000. Capital International Investors lifted its position in Mettler-Toledo International by 12.7% during the 4th quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier’s stock valued at $1,351,064,000 after acquiring an additional 109,508 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Mettler-Toledo International by 0.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier’s stock valued at $964,174,000 after acquiring an additional 3,157 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Mettler-Toledo International by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier’s stock worth $830,879,000 after acquiring an additional 14,106 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Insider Activity

In other news, Director Thomas P. Salice sold 417 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the transaction, the director directly owned 292 shares of the company’s stock, valued at $420,599.72. This represents a 58.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the completion of the sale, the chief financial officer owned 5,579 shares of the company’s stock, valued at $7,989,128. The trade was a 28.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,312 shares of company stock valued at $4,750,362 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

Mettler-Toledo International Trading Down 0.1%

NYSE:MTD opened at $1,397.03 on Monday. The company’s 50 day moving average price is $1,345.25 and its 200-day moving average price is $1,274.28. Mettler-Toledo International, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,525.17. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.88 and a beta of 1.23.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $10.09 EPS. On average, equities research analysts forecast that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MTD shares. Stifel Nicolaus raised their target price on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Robert W. Baird dropped their price target on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Wolfe Research initiated coverage on Mettler-Toledo International in a research note on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Jefferies Financial Group lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Mettler-Toledo International from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. 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.com, Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $1,461.27.

Mettler-Toledo International 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.