Freestone Grove Partners LP Acquires Shares of 65,767 Mettler-Toledo International, Inc. $MTD

Key Points

• Freestone Grove Partners acquired 65,767 Mettler-Toledo shares worth approximately $84 million, representing about 0.33% of the company. Institutional investors and hedge funds collectively own 95.07% of MTD.
• Analysts raised their price targets to between $1,450 and $1,600, but the overall consensus remains “Hold”, with six Buy ratings and seven Hold ratings and an average target of $1,461.27.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting $11.46 in EPS versus the $10.78 consensus and 4.5% year-over-year revenue growth. However, insiders sold 3,312 shares worth approximately $4.75 million over the past 90 days.

Freestone Grove Partners LP acquired a new position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,767 shares of the medical instruments supplier's stock, valued at approximately $84,018,000. Freestone Grove Partners LP owned approximately 0.33% of Mettler-Toledo International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTD. Evergreen Capital Management LLC lifted its position in Mettler-Toledo International by 4.5% during the 4th quarter. Evergreen Capital Management LLC now owns 184 shares of the medical instruments supplier's stock worth $257,000 after buying an additional 8 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Mettler-Toledo International by 1.7% in the fourth quarter. Meridian Wealth Management LLC now owns 488 shares of the medical instruments supplier's stock worth $680,000 after acquiring an additional 8 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Mettler-Toledo International by 2.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 302 shares of the medical instruments supplier's stock worth $421,000 after purchasing an additional 8 shares in the last quarter. Values First Advisors Inc. grew its stake in shares of Mettler-Toledo International by 1.3% during the first quarter. Values First Advisors Inc. now owns 625 shares of the medical instruments supplier's stock valued at $789,000 after purchasing an additional 8 shares during the last quarter. Finally, Torray Investment Partners LLC increased its holdings in shares of Mettler-Toledo International by 0.5% in the first quarter. Torray Investment Partners LLC now owns 1,677 shares of the medical instruments supplier's stock valued at $2,115,000 after purchasing an additional 8 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTD has been the subject of several research reports. Morgan Stanley lifted their target price on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Barclays boosted their price target on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Jefferies Financial Group upped their target price on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of "Hold" and an average price target of $1,461.27.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Thomas P. Salice sold 417 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the completion of the transaction, the director owned 292 shares in the company, valued at approximately $420,599.72. This represents a 58.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction dated 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 completion of 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,312 shares of company stock valued at $4,750,362. Company insiders own 0.71% of the company's stock.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,401.16 on Thursday. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,525.17. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45. The firm has a market cap of $28.08 billion, a PE ratio of 31.54, a P/E/G ratio of 2.88 and a beta of 1.23. The business's 50-day moving average price is $1,334.97 and its two-hundred day moving average price is $1,273.95.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.68. The company 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%.The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $10.09 earnings per share. As a group, research analysts forecast 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.

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