11,562 Shares in Mettler-Toledo International, Inc. $MTD Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 11,562 Mettler-Toledo shares worth approximately $14.8 million, while institutional investors collectively own 95.07% of the company.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting $11.46 in EPS versus the $10.78 consensus estimate, with revenue rising 4.5% year over year to $1.03 billion.
• Analyst sentiment remains mixed, with six Buy and seven Hold ratings and an average price target of $1,461.27; meanwhile, company insiders sold more than $4.75 million of stock over the past 90 days.

Canada Pension Plan Investment Board purchased a new position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,562 shares of the medical instruments supplier's stock, valued at approximately $14,771,000. Canada Pension Plan Investment Board owned approximately 0.06% of Mettler-Toledo International at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MTD. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Mettler-Toledo International in the 1st quarter valued at approximately $26,372,000. Strs Ohio raised its stake in shares of Mettler-Toledo International by 2,594.8% in the fourth quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier's stock valued at $18,672,000 after purchasing an additional 12,896 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Mettler-Toledo International by 34.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,150 shares of the medical instruments supplier's stock worth $5,786,000 after purchasing an additional 1,060 shares during the period. SEB Asset Management AB bought a new position in Mettler-Toledo International in the first quarter worth $15,889,000. Finally, Fifth Third Bancorp boosted its stake in Mettler-Toledo International by 377.3% during the first quarter. Fifth Third Bancorp now owns 4,181 shares of the medical instruments supplier's stock worth $5,272,000 after buying an additional 3,305 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Stock Down 0.7%

Shares of NYSE:MTD opened at $1,397.03 on Friday. 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 debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12. The company's fifty day moving average is $1,345.25 and its 200-day moving average is $1,275.03. The company has a market capitalization of $28.00 billion, a PE ratio of 31.44, a P/E/G ratio of 2.89 and a beta of 1.23.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.78 by $0.68. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $10.09 EPS. Equities research analysts predict that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MTD shares. Jefferies Financial Group increased their price objective on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating on the stock in a research report on Monday, May 11th. Wells Fargo & Company increased their price target on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Robert W. Baird cut their price target on shares of Mettler-Toledo International from $1,445.00 to $1,194.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Finally, Barclays lifted their price objective on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $1,461.27.

Insiders Place Their Bets

In other news, Director Thomas P. Salice sold 417 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total value of $600,650.97. Following the completion of the transaction, the director owned 292 shares in the company, valued at approximately $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shawn Vadala sold 2,240 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,312 shares of company stock valued at $4,750,362. 0.71% of the stock is currently owned by insiders.

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.

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