1,081 Shares in Mettler-Toledo International, Inc. $MTD Acquired by Plato Investment Management Ltd

Key Points

• Plato Investment Management acquired 1,081 Mettler-Toledo shares worth approximately $1.37 million in the second quarter. Institutional investors and hedge funds now own 95.07% of the company.
• Company insiders sold 3,312 shares worth about $4.75 million over the past quarter, including sizable sales by CFO Shawn Vadala and insider Gerry Keller.
• Mettler-Toledo reported quarterly earnings of $11.46 per share, beating estimates of $10.78, while revenue rose 4.5% year over year to $1.03 billion. Analysts maintain a consensus “Hold” rating with a $1,461.27 price target.

Plato Investment Management Ltd acquired a new stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,081 shares of the medical instruments supplier's stock, valued at approximately $1,373,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of Mettler-Toledo International during the second quarter worth about $358,000. Bank of New York Mellon Corp bought a new stake in Mettler-Toledo International during the 2nd quarter valued at $762,553,000. S&CO Inc. acquired a new stake in Mettler-Toledo International in the second quarter worth about $766,000. Kelleher Financial Advisors acquired a new stake in shares of Mettler-Toledo International in the 2nd quarter worth approximately $64,000. Finally, GSA Capital Partners LLP acquired a new stake in Mettler-Toledo International in the second quarter worth approximately $791,000. 95.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mettler-Toledo International

In related news, CFO Shawn Vadala sold 2,240 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were 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 directly owned 5,579 shares in the company, valued at $7,989,128. This trade represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gerry Keller sold 240 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were 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 directly owned 259 shares of the company's stock, valued at approximately $369,629.26. The trade was a 48.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,312 shares of company stock valued at $4,750,362. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTD has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Morgan Stanley upped their target price 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. Stifel Nicolaus increased their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Citigroup cut their price objective on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, Wolfe Research initiated coverage on Mettler-Toledo International in a report on Tuesday, June 2nd. They set a "peer perform" rating on the stock. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Mettler-Toledo International has a consensus rating of "Hold" and a consensus price target of $1,461.27.

Mettler-Toledo International Stock Down 0.1%

NYSE MTD opened at $1,417.73 on Tuesday. The stock's 50 day moving average is $1,298.78 and its two-hundred day moving average is $1,273.11. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,525.17. The company has a market capitalization of $28.41 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 2.92 and a beta of 1.23. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45.

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

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source