Cleararc Capital Inc. increased its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 650 shares of the medical instruments supplier’s stock after buying an additional 35 shares during the period. Cleararc Capital Inc.’s holdings in Mettler-Toledo International were worth $311,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Israel Discount Bank of New York bought a new position in shares of Mettler-Toledo International during the first quarter valued at approximately $102,000. YorkBridge Wealth Partners LLC raised its position in shares of Mettler-Toledo International by 11.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 222 shares of the medical instruments supplier’s stock valued at $115,000 after buying an additional 22 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Mettler-Toledo International during the fourth quarter valued at approximately $138,000. TLP Group LLC bought a new position in shares of Mettler-Toledo International during the first quarter valued at approximately $144,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Mettler-Toledo International by 2.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 465 shares of the medical instruments supplier’s stock valued at $195,000 after buying an additional 9 shares during the period. 96.57% of the stock is owned by hedge funds and other institutional investors.
Mettler-Toledo International, Inc. (NYSE:MTD) traded down 0.32% during midday trading on Tuesday, hitting $592.90. 174,414 shares of the stock traded hands. The firm has a market cap of $15.31 billion, a P/E ratio of 38.68 and a beta of 1.10. Mettler-Toledo International, Inc. has a 1-year low of $343.61 and a 1-year high of $604.99. The company has a 50-day moving average price of $568.19 and a 200-day moving average price of $484.83.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, May 4th. The medical instruments supplier reported $3.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.26. The firm had revenue of $594.57 million for the quarter, compared to analyst estimates of $571.30 million. Mettler-Toledo International had a net margin of 16.04% and a return on equity of 90.28%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. Analysts predict that Mettler-Toledo International, Inc. will post $17.19 EPS for the current year.
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MTD has been the subject of several research analyst reports. Cleveland Research raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 19th. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $538.00 price target for the company in a research report on Wednesday, April 12th. Bank of America Corporation upped their price target on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. BidaskClub lowered shares of Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $550.00 price target on shares of Mettler-Toledo International in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Mettler-Toledo International has a consensus rating of “Buy” and a consensus price target of $509.17.
In other Mettler-Toledo International news, Director Francis A. Contino sold 725 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $546.00, for a total value of $395,850.00. Following the sale, the director now owns 2,234 shares of the company’s stock, valued at approximately $1,219,764. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Vadala sold 700 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $543.64, for a total transaction of $380,548.00. Following the completion of the sale, the chief financial officer now directly owns 6,225 shares in the company, valued at approximately $3,384,159. The disclosure for this sale can be found here. Insiders sold a total of 52,046 shares of company stock worth $28,826,702 in the last three months. Insiders own 5.20% of the company’s stock.
About Mettler-Toledo International
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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