Meiji Yasuda Asset Management Co Ltd. Buys Shares of 2,642 Mettler-Toledo International, Inc. $MTD

Key Points

• Meiji Yasuda Asset Management initiated a position in Mettler-Toledo International by purchasing 2,642 shares valued at approximately $3.38 million. Institutional investors collectively own 95.07% of the company.
• Analysts remain mixed, with six Buy ratings and seven Holds; however, Jefferies and Barclays raised their price targets to $1,580 and $1,575, respectively. The consensus rating is Hold with 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. Meanwhile, insiders sold 3,312 shares worth about $4.75 million over the past 90 days.

Meiji Yasuda Asset Management Co Ltd. bought a new position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,642 shares of the medical instruments supplier's stock, valued at approximately $3,375,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTD. Bank of Nova Scotia acquired a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $4,223,000. Elevation Point Wealth Partners LLC acquired a new stake in Mettler-Toledo International during the 2nd quarter worth $524,000. Daiichi Life Insurance Co. Ltd. bought a new position in Mettler-Toledo International during the second quarter worth about $764,000. Commerce Bank acquired a new position in Mettler-Toledo International in the second quarter valued at about $1,728,000. Finally, Weitz Investment Management Inc. acquired a new position in Mettler-Toledo International in the second quarter valued at about $3,258,000. 95.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MTD shares. Wall Street Zen lowered Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Wolfe Research initiated coverage on Mettler-Toledo International in a research report on Tuesday, June 2nd. They issued a "peer perform" rating for the company. Weiss Ratings upgraded shares of Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Jefferies Financial Group upped their price target on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Barclays raised 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 report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Mettler-Toledo International currently has an average rating of "Hold" and an average price target of $1,461.27.

Insider Activity at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 2,240 shares of the 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 completion of the sale, the chief financial officer owned 5,579 shares of the company's stock, valued at approximately $7,989,128. This represents a 28.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gerry Keller sold 240 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 259 shares of the company's stock, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,312 shares of company stock valued at $4,750,362. Insiders own 0.71% of the company's stock.

Mettler-Toledo International Trading Up 0.3%

Shares of NYSE:MTD opened at $1,399.02 on Tuesday. The company's 50-day moving average price is $1,324.55 and its two-hundred day moving average price is $1,273.73. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. Mettler-Toledo International, Inc. has a one year low of $1,023.05 and a one year high of $1,525.17. The stock has a market capitalization of $28.04 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.78 by $0.68. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $10.09 EPS. On average, equities analysts forecast that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

About Mettler-Toledo International

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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