Bank of Nova Scotia Takes $4.22 Million Position in Mettler-Toledo International, Inc. $MTD

Key Points

• Bank of Nova Scotia purchased 3,306 shares of Mettler-Toledo International worth approximately $4.22 million in the second quarter. 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, while revenue rose 4.5% year over year to $1.03 billion.
• Analyst sentiment remains mixed: Stifel Nicolaus and Barclays raised their price targets, but the overall consensus rating is “Hold”, with a target price of $1,461.27. Company insiders sold approximately $4.75 million of stock over the past three months.

Bank of Nova Scotia purchased a new stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,306 shares of the medical instruments supplier's stock, valued at approximately $4,223,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Mettler-Toledo International in the first quarter worth $26,372,000. Strs Ohio grew its holdings in shares of Mettler-Toledo International by 2,594.8% in the 4th quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier's stock valued at $18,672,000 after buying an additional 12,896 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Mettler-Toledo International by 34.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,150 shares of the medical instruments supplier's stock valued at $5,786,000 after buying an additional 1,060 shares during the period. SEB Asset Management AB bought a new stake in shares of Mettler-Toledo International in the 1st quarter valued at $15,889,000. Finally, Fifth Third Bancorp raised its stake in Mettler-Toledo International by 377.3% during the 1st 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 during the period. Institutional investors own 95.07% of the company's stock.

Insiders Place Their Bets

In other Mettler-Toledo International news, CFO Shawn Vadala sold 2,240 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the sale, the chief financial officer owned 5,579 shares of the company's stock, valued at approximately $7,989,128. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gerry Keller sold 240 shares of the 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 owned 259 shares of the company's stock, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,312 shares of company stock worth $4,750,362 over the last three months. Insiders own 0.71% of the company's stock.

Mettler-Toledo International Stock Performance

NYSE MTD opened at $1,402.64 on Wednesday. The firm has a 50-day moving average of $1,329.55 and a 200-day moving average of $1,273.83. 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 stock has a market cap of $28.11 billion, a PE ratio of 31.57, a P/E/G ratio of 2.88 and a beta of 1.23. Mettler-Toledo International, Inc. has a 52-week low of $1,023.05 and a 52-week high of $1,525.17.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTD shares. Stifel Nicolaus lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Barclays increased their target price on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an "overweight" rating in a research note 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 on the stock in a research note on Monday, May 11th. Wolfe Research started coverage on shares of Mettler-Toledo International in a report on Tuesday, June 2nd. They issued a "peer perform" rating for the company. Finally, Morgan Stanley increased their price objective on shares of Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $1,461.27.

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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