217 Shares in Mettler-Toledo International, Inc. (NYSE:MTD) Purchased by Baker Avenue Asset Management LP

Key Points

• Baker Avenue Asset Management LP acquired 217 shares of Mettler-Toledo International, valued at approximately $257,000, as per their recent 13F filing.
• Recent transactions indicate significant interest from institutional investors, with GAMMA Investing LLC increasing its stake by over 131,000% during the first quarter, now holding nearly 386,158 shares valued at $456 million.
• Baker Avenue's investment coincides with mixed analyst ratings for Mettler-Toledo, where price targets range from $1,275 to $1,300, with a consensus rating of "Hold."

Baker Avenue Asset Management LP acquired a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 217 shares of the medical instruments supplier's stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Mettler-Toledo International by 131,246.3% in the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after acquiring an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock worth $444,327,000 after purchasing an additional 96,300 shares during the last quarter. Northern Trust Corp lifted its holdings in Mettler-Toledo International by 23.6% in the 4th quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock valued at $308,006,000 after purchasing an additional 48,027 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Mettler-Toledo International by 60.4% during the 1st quarter. AustralianSuper Pty Ltd now owns 114,986 shares of the medical instruments supplier's stock valued at $135,788,000 after buying an additional 43,313 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Mettler-Toledo International by 2,411.4% during the fourth quarter. Millennium Management LLC now owns 43,346 shares of the medical instruments supplier's stock worth $53,042,000 after purchasing an additional 41,620 shares in the last quarter. Institutional investors own 95.07% of the company's stock.

Insider Activity at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the sale, the director directly owned 120 shares in the company, valued at $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.94% of the stock is owned by corporate insiders.

Mettler-Toledo International Stock Performance

Shares of MTD traded up $14.29 during mid-day trading on Thursday, hitting $1,236.13. 100,938 shares of the company traded hands, compared to its average volume of 175,923. The stock has a 50-day moving average price of $1,198.86 and a two-hundred day moving average price of $1,192.65. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,521.01. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 3.73 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping analysts' consensus estimates of $9.58 by $0.51. The business had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $9.65 earnings per share. On average, analysts forecast that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MTD. Evercore ISI decreased their price target on Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating for the company in a research note on Monday. Bank of America increased their target price on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Barclays assumed coverage on Mettler-Toledo International in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price objective on the stock. Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and lowered their price objective for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their price target on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1,288.89.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.