LMR Partners LLP bought a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD) during the second quarter, Holdings Channel reports. The firm bought 4,340 shares of the medical instruments supplier’s stock, valued at approximately $2,555,000.
A number of other hedge funds also recently modified their holdings of MTD. Israel Discount Bank of New York bought a new stake in shares of Mettler-Toledo International during the first quarter worth $102,000. YorkBridge Wealth Partners LLC raised its stake 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 worth $115,000 after buying an additional 22 shares in the last quarter. TLP Group LLC bought a new stake in shares of Mettler-Toledo International during the first quarter worth $144,000. CAPROCK Group Inc. bought a new stake in shares of Mettler-Toledo International during the second quarter worth $205,000. Finally, Personal Capital Advisors Corp bought a new stake in shares of Mettler-Toledo International during the second quarter worth $206,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.
Mettler-Toledo International, Inc. (MTD) opened at 580.78 on Wednesday. The company’s 50-day moving average is $590.31 and its 200-day moving average is $533.00. Mettler-Toledo International, Inc. has a 52 week low of $386.01 and a 52 week high of $618.13. The company has a market cap of $14.91 billion, a P/E ratio of 35.71 and a beta of 1.13.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.89 by $0.03. The business had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $646.68 million. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.22 EPS. On average, analysts anticipate that Mettler-Toledo International, Inc. will post $16.89 EPS for the current fiscal year.
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A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Group LLC reiterated a “hold” rating and set a $550.00 price target on shares of Mettler-Toledo International in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $655.00 price target on the stock in a report on Wednesday, June 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $565.00 price target (up previously from $533.00) on shares of Mettler-Toledo International in a 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 company currently has a consensus rating of “Buy” and a consensus price target of $569.80.
In other Mettler-Toledo International news, Director Robert F. Spoerry sold 6,200 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $570.00, for a total transaction of $3,534,000.00. Following the completion of the sale, the director now owns 6,454 shares of the company’s stock, valued at approximately $3,678,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Vadala sold 1,500 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $577.00, for a total transaction of $865,500.00. Following the sale, the chief financial officer now directly owns 6,525 shares of the company’s stock, valued at approximately $3,764,925. The disclosure for this sale can be found here. Insiders have sold a total of 19,286 shares of company stock valued at $11,125,619 in the last three months. 5.20% of the stock is currently owned by corporate insiders.
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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