Jupiter Asset Management Ltd. Has $40 Million Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Mettler-Toledo International by 6.1% during the 1st quarter, bringing its total shares to 33,875, valued at approximately $40 million.
• In addition to Jupiter, several other institutional investors significantly boosted their holdings, with GAMMA Investing LLC increasing its stake by an astonishing 131,246.3%.
• Mettler-Toledo reported a quarterly earnings per share of $10.09, exceeding expectations and indicating a 3.9% increase in revenue year-over-year.

Jupiter Asset Management Ltd. boosted its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,875 shares of the medical instruments supplier's stock after buying an additional 1,958 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.16% of Mettler-Toledo International worth $40,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenleaf Trust raised its position in shares of Mettler-Toledo International by 1.2% during the 1st quarter. Greenleaf Trust now owns 872 shares of the medical instruments supplier's stock valued at $1,030,000 after buying an additional 10 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Mettler-Toledo International by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 627 shares of the medical instruments supplier's stock valued at $740,000 after purchasing an additional 11 shares in the last quarter. Albion Financial Group UT grew its holdings in shares of Mettler-Toledo International by 1.5% in the first quarter. Albion Financial Group UT now owns 754 shares of the medical instruments supplier's stock valued at $890,000 after purchasing an additional 11 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Mettler-Toledo International by 5.4% in the first quarter. TD Private Client Wealth LLC now owns 214 shares of the medical instruments supplier's stock valued at $253,000 after purchasing an additional 11 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of Mettler-Toledo International by 1.8% in the first quarter. Congress Asset Management Co. now owns 667 shares of the medical instruments supplier's stock valued at $788,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MTD shares. Wells Fargo & Company boosted their price target on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Evercore ISI lowered their price target on shares of Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating for the company in a report on Monday. Barclays started coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and reduced their price objective for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $1,300.00.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the sale, the director owned 120 shares in the company, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Trading Up 1.0%

Mettler-Toledo International stock traded up $12.38 during mid-day trading on Tuesday, reaching $1,244.26. The company's stock had a trading volume of 148,284 shares, compared to its average volume of 176,461. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 3.64 and a beta of 1.34. The business has a 50 day moving average price of $1,195.92 and a 200-day moving average price of $1,192.09. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,521.01.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The company had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. During the same quarter in the previous year, the company posted $9.65 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

About Mettler-Toledo International

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.