BlackRock Inc. bought a new stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,882,344 shares of the medical instruments supplier's stock, valued at approximately $2,404,713,000. BlackRock Inc. owned 9.39% of Mettler-Toledo International as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Capital International Investors increased its holdings in shares of Mettler-Toledo International by 12.7% in the 4th quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier's stock valued at $1,351,064,000 after purchasing an additional 109,508 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Mettler-Toledo International by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier's stock worth $964,174,000 after buying an additional 3,157 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Mettler-Toledo International by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier's stock worth $830,879,000 after buying an additional 14,106 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Mettler-Toledo International during the second quarter worth about $762,553,000. Finally, Norges Bank acquired a new position in Mettler-Toledo International during the fourth quarter worth about $520,989,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Barclays increased their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Wolfe Research assumed coverage on shares of Mettler-Toledo International in a research note on Tuesday, June 2nd. They set a "peer perform" rating for the company. Finally, Citigroup cut their price objective on Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Mettler-Toledo International currently has a consensus rating of "Hold" and a consensus target price of $1,461.27.
Get Our Latest Research Report on MTD
Mettler-Toledo International Trading Up 1.8%
Shares of MTD opened at $1,424.86 on Thursday. The stock's 50-day moving average is $1,309.30 and its two-hundred day moving average is $1,273.33. The stock has a market cap of $28.55 billion, a PE ratio of 32.07, a P/E/G ratio of 2.88 and a beta of 1.23. Mettler-Toledo International, Inc. has a 12 month low of $1,023.05 and a 12 month high of $1,525.17. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.
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, beating the consensus estimate of $10.78 by $0.68. The business had revenue of $1.03 billion for 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 period last year, the business posted $10.09 EPS. Equities analysts forecast that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Thomas P. Salice sold 417 shares of the stock in a transaction dated Wednesday, August 5th. The stock was 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 of the company's stock, valued at approximately $420,599.72. This represents a 58.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gerry Keller sold 240 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total value of $342,513.60. Following the sale, the insider owned 259 shares in the company, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,312 shares of company stock worth $4,750,362. 0.71% of the stock is currently owned by company insiders.
About Mettler-Toledo International
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Free Report)
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.
See Also
Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International, Inc. (NYSE:MTD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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