LPL Financial LLC Purchases 758 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• LPL Financial LLC increased its stake in Mettler-Toledo International by 16.3%, acquiring an additional 758 shares, bringing their total holdings to 5,404 shares valued at $6,382,000.
• Institutional investors control 95.07% of Mettler-Toledo's stock, with significant changes such as GAMMA Investing LLC increasing its holdings by 131,246.3%.
• Mettler-Toledo’s recent quarterly earnings surpassed estimates, reporting $10.09 EPS compared to the expected $9.58 EPS, with revenues of $983.22 million.

LPL Financial LLC lifted its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,404 shares of the medical instruments supplier's stock after acquiring an additional 758 shares during the quarter. LPL Financial LLC's holdings in Mettler-Toledo International were worth $6,382,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Mettler-Toledo International by 6.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 455,739 shares of the medical instruments supplier's stock valued at $557,680,000 after buying an additional 25,873 shares during the period. GAMMA Investing LLC grew its position in Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after buying an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock valued at $444,327,000 after buying an additional 96,300 shares during the period. Principal Financial Group Inc. grew its position in Mettler-Toledo International by 2.1% during the first quarter. Principal Financial Group Inc. now owns 280,319 shares of the medical instruments supplier's stock valued at $331,032,000 after buying an additional 5,756 shares during the period. Finally, Northern Trust Corp grew its position in Mettler-Toledo International by 23.6% during the fourth quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock valued at $308,006,000 after buying an additional 48,027 shares during the period. Institutional investors own 95.07% of the company's stock.

Analyst Ratings Changes

MTD has been the subject of several research reports. Bank of America increased their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. UBS Group raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and lowered their price target for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Wells Fargo & Company increased 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. Finally, Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $1,288.89.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Thomas P. Salice sold 1,062 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $1,300.90, for a total transaction of $1,381,555.80. Following the completion of the transaction, the director owned 283 shares of the company's stock, valued at approximately $368,154.70. This trade represents a 78.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shawn Vadala sold 300 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $1,254.09, for a total value of $376,227.00. Following the completion of the sale, the chief financial officer owned 5,095 shares in the company, valued at $6,389,588.55. The trade was a 5.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,424 shares of company stock worth $2,989,628 in the last three months. 1.94% of the stock is owned by corporate insiders.

Mettler-Toledo International Price Performance

NYSE:MTD traded up $7.02 during trading hours on Friday, hitting $1,320.66. The company had a trading volume of 59,328 shares, compared to its average volume of 174,632. The company has a market capitalization of $27.21 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.34. The stock has a 50-day moving average price of $1,213.03 and a 200 day moving average price of $1,190.73. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,521.01.

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

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.