5,876 Shares of Mettler-Toledo International, Inc. $MTD Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 5,876 Mettler-Toledo shares in the third quarter, valued at approximately $8.88 million.
• Institutional investors own 95.07% of the company’s shares; CEO Patrick Kaltenbach separately sold 942 shares for about $1.34 million.
• Analysts’ consensus rating is Hold, with an average price target of $1,469.15. MTD opened at $1,723.17, near its 52-week high of $1,737.99.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,876 shares of the medical instruments supplier's stock, valued at approximately $8,878,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service boosted its holdings in Mettler-Toledo International by 7.9% in the 2nd quarter. National Pension Service now owns 39,696 shares of the medical instruments supplier's stock worth $50,712,000 after acquiring an additional 2,916 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Mettler-Toledo International in the first quarter valued at approximately $26,372,000. Bank of America Corp DE acquired a new stake in Mettler-Toledo International in the second quarter valued at approximately $240,817,000. Corient Private Wealth LP raised its stake in shares of Mettler-Toledo International by 421.7% during the second quarter. Corient Private Wealth LP now owns 26,147 shares of the medical instruments supplier's stock valued at $33,402,000 after purchasing an additional 21,135 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Mettler-Toledo International during the second quarter valued at approximately $1,283,000. Hedge funds and other institutional investors own 95.07% of the company's stock.

Insider Buying and Selling at Mettler-Toledo International

In related news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the completion of the sale, the chief executive officer owned 4,480 shares in the company, valued at approximately $6,384,000. The trade was a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company's stock.

Mettler-Toledo International Price Performance

MTD stock opened at $1,723.17 on Thursday. The stock's 50 day moving average is $1,512.80 and its two-hundred day moving average is $1,343.25. Mettler-Toledo International, Inc. has a 52-week low of $1,023.05 and a 52-week high of $1,737.99. The company has a market capitalization of $34.53 billion, a PE ratio of 38.78, a P/E/G ratio of 3.42 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MTD. Wells Fargo & Company boosted 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 research report on Monday, August 3rd. Jefferies Financial Group lifted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Morgan Stanley lifted their price target on shares of Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 13th. Royal Bank Of Canada began coverage on shares of Mettler-Toledo International in a report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 price objective on the stock. Finally, Weiss Ratings raised shares of Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Mettler-Toledo International presently has a consensus rating of "Hold" and a consensus price target of $1,469.15.

About Mettler-Toledo International

Mettler-Toledo International Inc NYSE: MTD develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company's laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.

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