Cibc World Market Inc. Invests $8.25 Million in Mettler-Toledo International, Inc. $MTD

Key Points

• Cibc World Market Inc. acquired 6,458 shares of Mettler-Toledo International valued at approximately $8.25 million during the second quarter. Institutional investors collectively own 95.07% of the company.
• Analyst sentiment remains mixed, with six Buy ratings and seven Hold ratings, producing a consensus rating of Hold and an average price target of $1,461.27.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting EPS of $11.46 versus the $10.78 consensus, while revenue rose 4.5% year over year to $1.03 billion. Meanwhile, insiders sold 3,312 shares worth roughly $4.75 million during the last quarter.

Cibc World Market Inc. acquired a new stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,458 shares of the medical instruments supplier's stock, valued at approximately $8,250,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of Mettler-Toledo International by 83.3% during the first quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier's stock worth $78,000 after acquiring an additional 30 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Mettler-Toledo International by 3.1% during the 2nd quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier's stock valued at $1,582,000 after purchasing an additional 40 shares during the period. Jump Financial LLC grew its position in Mettler-Toledo International by 44.6% in the 2nd quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier's stock worth $476,000 after purchasing an additional 125 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Mettler-Toledo International by 10.8% in the second quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier's stock valued at $4,740,000 after purchasing an additional 392 shares during the period. Finally, AXA S.A. raised its holdings in shares of Mettler-Toledo International by 2.9% during the second quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier's stock valued at $5,433,000 after buying an additional 131 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MTD shares. Weiss Ratings upgraded Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Wells Fargo & Company increased their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Citigroup dropped their price target on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group increased their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $1,461.27.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the transaction, the chief financial officer directly owned 5,579 shares of the company's stock, valued at $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gerry Keller sold 240 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,312 shares of company stock worth $4,750,362. Company insiders own 0.71% of the company's stock.

Mettler-Toledo International Price Performance

NYSE MTD opened at $1,402.64 on Wednesday. Mettler-Toledo International, Inc. has a 1 year low of $1,023.05 and a 1 year high of $1,525.17. The business's fifty day moving average is $1,329.55 and its two-hundred day moving average is $1,273.83. The stock has a market capitalization of $28.11 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.88 and a beta of 1.23. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12.

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

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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