The Manufacturers Life Insurance Company acquired a new stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,524 shares of the medical instruments supplier’s stock, valued at approximately $23,662,000. The Manufacturers Life Insurance Company owned about 0.09% of Mettler-Toledo International as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTD. Geneos Wealth Management Inc. raised its stake in Mettler-Toledo International by 83.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock valued at $78,000 after buying an additional 30 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Mettler-Toledo International by 3.1% in the 2nd quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier’s stock worth $1,582,000 after buying an additional 40 shares during the last quarter. Jump Financial LLC grew its stake in shares of Mettler-Toledo International by 44.6% during the 2nd quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier’s stock valued at $476,000 after purchasing an additional 125 shares during the period. Cerity Partners LLC increased its position in shares of Mettler-Toledo International by 10.8% during the 2nd quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier’s stock valued at $4,740,000 after purchasing an additional 392 shares during the last quarter. Finally, AXA S.A. lifted its stake in shares of Mettler-Toledo International by 2.9% in the 2nd quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier’s stock worth $5,433,000 after purchasing an additional 131 shares during the period. Institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Stock Up 0.6%
Shares of MTD stock opened at $1,407.20 on Friday. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.88 and a beta of 1.23. Mettler-Toledo International, Inc. has a one year low of $1,023.05 and a one year high of $1,525.17. The company’s fifty day moving average price is $1,340.21 and its 200-day moving average price is $1,274.17. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.
Insider Activity
In other news, insider Gerry Keller sold 240 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total value of $342,513.60. Following the completion of the transaction, the insider owned 259 shares of the company’s stock, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Shawn Vadala sold 2,240 shares of the 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 sale, the chief financial officer owned 5,579 shares of the company’s stock, valued at $7,989,128. This represents a 28.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,312 shares of company stock worth $4,750,362 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
Wall Street Analysts Forecast Growth
MTD has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Jefferies Financial Group lifted their target price on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Morgan Stanley boosted their price target on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Citigroup reduced their price target on Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Wolfe Research assumed coverage on Mettler-Toledo International in a research note on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Mettler-Toledo International presently has a consensus rating of “Hold” and a consensus 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.
Featured Articles
- Five stocks we like better than Mettler-Toledo International
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International, Inc. (NYSE:MTD – Free Report).
Receive News & Ratings for Mettler-Toledo International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mettler-Toledo International and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
