Blueshift Asset Management LLC Makes New $748,000 Investment in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Blueshift Asset Management LLC has acquired 633 shares of Mettler-Toledo International, Inc. valued at approximately $748,000, marking a significant investment in the medical instruments supplier.
• Analysts have varying ratings on Mettler-Toledo, with Citigroup upgrading the stock from "neutral" to "buy" and setting a price target of $1,400.00, while the consensus rating remains "Hold" with an average target of $1,298.50.
• In a recent quarterly report, Mettler-Toledo International reported earnings per share of $10.09, exceeding analysts' expectations, with revenue of $983.22 million, reflecting a 3.9% increase year-over-year.

Blueshift Asset Management LLC purchased a new position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 633 shares of the medical instruments supplier's stock, valued at approximately $748,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Mettler-Toledo International by 39.1% during the first quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock valued at $103,000 after buying an additional 25 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Mettler-Toledo International by 29.4% during the first quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier's stock valued at $577,000 after buying an additional 111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mettler-Toledo International by 13.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,488 shares of the medical instruments supplier's stock valued at $2,929,000 after buying an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Mettler-Toledo International by 95.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier's stock valued at $2,600,000 after buying an additional 1,073 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Mettler-Toledo International by 7.1% during the first quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier's stock valued at $40,871,000 after purchasing an additional 2,296 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Price Performance

MTD stock traded down $34.91 during mid-day trading on Friday, reaching $1,198.77. The company had a trading volume of 339,593 shares, compared to its average volume of 155,291. The company has a market capitalization of $24.91 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 3.68 and a beta of 1.34. The firm has a 50 day moving average of $1,193.61 and a 200 day moving average of $1,193.27. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,521.01.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a negative return on equity of 556.53% and a net margin of 21.46%. The company had revenue of $983.22 million for the quarter, compared to the consensus estimate of $957.41 million. During the same period last year, the business posted $9.65 EPS. Mettler-Toledo International's quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Analyst Upgrades and Downgrades

MTD has been the topic of a number of research analyst reports. Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and lowered their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Bank of America upped their price target on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Evercore ISI upped their price target on Mettler-Toledo International from $1,200.00 to $1,280.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, Robert W. Baird upped their price objective on Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $1,298.50.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the transaction, the director owned 120 shares in the company, valued at $139,191.60. The trade was 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 at the SEC website. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International Company Profile

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.