Empowered Funds LLC Buys Shares of 3,413 Mettler-Toledo International, Inc. $MTD

Key Points

• Empowered Funds LLC acquired 3,413 Mettler-Toledo shares worth approximately $4.36 million during the second quarter. Institutional investors collectively own 95.07% of the company.
• Analyst sentiment remains mixed, with six Buy ratings and seven Holds; the consensus rating is Hold with an average price target of $1,461.27.
• Mettler-Toledo beat quarterly earnings expectations, reporting $11.46 in adjusted EPS versus the $10.78 consensus, while revenue rose 4.5% year over year to $1.03 billion. Meanwhile, insiders sold 4,254 shares worth about $6.09 million over the past 90 days.

Empowered Funds LLC purchased a new stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,413 shares of the medical instruments supplier's stock, valued at approximately $4,360,000.

Other institutional investors also recently modified their holdings of the company. XXEC Inc. bought a new position in Mettler-Toledo International in the second quarter valued at about $77,044,000. BlackRock Inc. bought a new position in shares of Mettler-Toledo International in the second quarter worth about $2,404,713,000. Capital International Investors lifted its holdings in shares of Mettler-Toledo International by 12.7% in the fourth quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier's stock worth $1,351,064,000 after acquiring an additional 109,508 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Mettler-Toledo International by 0.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier's stock valued at $964,174,000 after purchasing an additional 3,157 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Mettler-Toledo International by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier's stock valued at $830,879,000 after purchasing an additional 14,106 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MTD shares. Barclays upped 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 research report on Monday, August 3rd. Citigroup cut their target price 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 boosted their target price on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $1,461.27.

Insider Buying and Selling

In related news, CFO Shawn Vadala sold 2,240 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gerry Keller sold 240 shares of the 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 directly owned 259 shares of the company's stock, valued at $369,629.26. This represents a 48.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,254 shares of company stock worth $6,092,712. Corporate insiders own 0.71% of the company's stock.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD opened at $1,405.98 on Tuesday. 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, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,525.17. The firm has a market cap of $28.18 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.88 and a beta of 1.23. The firm's fifty day moving average is $1,350.11 and its 200-day moving average is $1,274.33.

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, beating analysts' consensus estimates of $10.78 by $0.68. The business had revenue of $1.03 billion during 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%.Mettler-Toledo International's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $10.09 earnings per share. Sell-side 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 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source