Edgestream Partners L.P. Purchases 2,602 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Edgestream Partners L.P. increased its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 44.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,431 shares of the medical instruments supplier's stock after buying an additional 2,602 shares during the period. Edgestream Partners L.P.'s holdings in Mettler-Toledo International were worth $9,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTD. Edmond DE Rothschild Holding S.A. purchased a new position in Mettler-Toledo International during the fourth quarter worth about $44,000. Golden State Wealth Management LLC boosted its holdings in Mettler-Toledo International by 583.3% during the first quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier's stock worth $48,000 after purchasing an additional 35 shares during the last quarter. Menard Financial Group LLC purchased a new position in Mettler-Toledo International during the fourth quarter worth about $67,000. Blue Trust Inc. boosted its holdings in Mettler-Toledo International by 520.0% during the first quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier's stock worth $73,000 after purchasing an additional 52 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Mettler-Toledo International by 14.3% during the fourth quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock worth $78,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Stock Performance

Shares of Mettler-Toledo International stock opened at $1,223.62 on Monday. The company has a fifty day moving average of $1,165.26 and a 200-day moving average of $1,194.94. Mettler-Toledo International, Inc. has a 52-week low of $946.69 and a 52-week high of $1,546.93. The stock has a market capitalization of $25.43 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 3.76 and a beta of 1.37.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The company had revenue of $883.74 million during the quarter, compared to analyst estimates of $876.61 million. During the same period in the prior year, the business posted $8.89 EPS. The firm's revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Robert W. Baird lowered their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Barclays began coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price objective on the stock. Wall Street Zen lowered shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price on the stock in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $1,280.90.

Insider Activity at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the sale, the director directly owned 120 shares of the company's stock, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.

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