Corient Private Wealth LP Purchases 21,135 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• Corient Private Wealth LP increased its Mettler-Toledo stake by 421.7% in the second quarter, buying 21,135 shares to reach 26,147 shares valued at approximately $33.4 million. Institutional investors collectively own 95.07% of the company.
• Company insiders sold 4,254 shares worth about $6.1 million over the past three months, including stock sales by CFO Shawn Vadala and insider Gerry Keller on August 3.
• Analysts maintain a consensus “Hold” rating with an average price target of $1,446.36. Mettler-Toledo recently beat quarterly earnings expectations, reporting $11.46 in adjusted EPS on $1.03 billion in revenue, with revenue up 4.5% year over year.

Corient Private Wealth LP increased its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 421.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,147 shares of the medical instruments supplier's stock after buying an additional 21,135 shares during the period. Corient Private Wealth LP owned 0.13% of Mettler-Toledo International worth $33,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. XXEC Inc. acquired a new position in Mettler-Toledo International during the second quarter worth $77,044,000. California State Teachers Retirement System raised its holdings in Mettler-Toledo International by 114,807.7% during the second quarter. California State Teachers Retirement System now owns 35,100,865 shares of the medical instruments supplier's stock valued at $44,841,706,000 after buying an additional 35,070,318 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Mettler-Toledo International in the second quarter worth about $2,404,713,000. Bank of New York Mellon Corp acquired a new stake in shares of Mettler-Toledo International in the second quarter worth about $762,553,000. Finally, Wellington Management Group LLP boosted its stake in shares of Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock worth $586,459,000 after acquiring an additional 413,547 shares in the last quarter. Institutional investors own 95.07% of the company's stock.

Insiders Place Their Bets

In related news, CFO Shawn Vadala sold 2,240 shares of the company'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 completion of the transaction, the chief financial officer directly owned 5,579 shares in the company, valued at $7,989,128. This represents a 28.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gerry Keller sold 240 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,254 shares of company stock valued at $6,092,712 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTD. Weiss Ratings raised Mettler-Toledo International from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Wells Fargo & Company boosted their target price on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Royal Bank Of Canada initiated coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 target price for the company. Barclays increased their price target on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Finally, Wolfe Research began coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1,446.36.

Mettler-Toledo International Trading Up 0.0%

Shares of NYSE:MTD opened at $1,293.95 on Monday. 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's 50-day moving average is $1,363.24 and its 200-day moving average is $1,271.71. The company has a market cap of $25.93 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.59 and a beta of 1.22. 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 quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $10.09 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current year.

Mettler-Toledo International Profile

Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.

The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.

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