Andra AP fonden Acquires 5,080 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• Andra AP fonden increased its Mettler-Toledo stake by 125.6% in the second quarter, acquiring 5,080 shares for a total holding of 9,123 shares valued at approximately $11.7 million. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly earnings of $11.46 per share, exceeding estimates of $10.78, while revenue rose 4.5% year over year to $1.03 billion.
• The stock opened at $1,497.66, near its 52-week high, while analysts maintain a consensus “Hold” rating with an average price target of $1,446.36; insiders have sold about $6.1 million in shares over the past three months.

Andra AP fonden boosted its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 125.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,123 shares of the medical instruments supplier's stock after acquiring an additional 5,080 shares during the quarter. Andra AP fonden's holdings in Mettler-Toledo International were worth $11,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. XXEC Inc. purchased a new stake in Mettler-Toledo International during the 2nd quarter valued at $77,044,000. BlackRock Inc. bought a new stake in shares of Mettler-Toledo International in the 2nd quarter worth about $2,404,713,000. Bank of New York Mellon Corp purchased a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $762,553,000. Wellington Management Group LLP grew its holdings in Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock valued at $586,459,000 after purchasing an additional 413,547 shares during the last quarter. Finally, Norges Bank bought a new position in Mettler-Toledo International during the 4th quarter valued at about $520,989,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick Kaltenbach sold 942 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 4,480 shares of the company's stock, valued at approximately $6,384,000. This trade represents a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas P. Salice sold 417 shares of the company's 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 sale, the director owned 292 shares of the company's stock, valued at $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,254 shares of company stock valued at $6,092,712 in the last three months. 0.71% of the stock is currently owned by company insiders.

Mettler-Toledo International Stock Performance

Shares of MTD stock opened at $1,497.66 on Wednesday. Mettler-Toledo International, Inc. has a 52-week low of $1,023.05 and a 52-week high of $1,525.17. The company's 50 day moving average is $1,377.16 and its 200 day moving average is $1,273.85. The firm has a market cap of $30.01 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.87 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 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 the consensus estimate 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 was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $10.09 earnings per share. On average, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group upped 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 note on Friday, July 31st. UBS Group began coverage on Mettler-Toledo International in a research note on Wednesday, September 9th. They set a "neutral" rating and a $1,460.00 price target for the company. Weiss Ratings upgraded Mettler-Toledo International from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Royal Bank Of Canada started coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 price objective on the stock. Finally, Rothschild & Co Redburn began coverage on Mettler-Toledo International in a research note on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $1,446.36.

About Mettler-Toledo International

Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.

The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.

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