Mettler-Toledo International, Inc. $MTD Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Mettler-Toledo stake by 161.1% in the second quarter, ending with 33,608 shares valued at approximately $42.9 million. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly earnings of $11.46 per share, exceeding analyst expectations of $10.78, while revenue rose 4.5% year over year to $1.03 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1,461.27. Meanwhile, company insiders sold 3,312 shares worth roughly $4.75 million over the past 90 days.

Assenagon Asset Management S.A. increased its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 161.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,608 shares of the medical instruments supplier's stock after buying an additional 20,736 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Mettler-Toledo International worth $42,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTD. CX Institutional boosted its stake in Mettler-Toledo International by 18.8% during the second quarter. CX Institutional now owns 196 shares of the medical instruments supplier's stock worth $250,000 after buying an additional 31 shares during the period. Parallel Advisors LLC raised its stake in shares of Mettler-Toledo International by 6.7% in the 1st quarter. Parallel Advisors LLC now owns 352 shares of the medical instruments supplier's stock valued at $445,000 after acquiring an additional 22 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Mettler-Toledo International by 2.2% in the 1st quarter. Glenmede Trust Co. NA now owns 873 shares of the medical instruments supplier's stock worth $1,101,000 after acquiring an additional 19 shares during the last quarter. Axiom Investment Management LLC acquired a new position in shares of Mettler-Toledo International in the 1st quarter worth approximately $853,000. Finally, Groupama Asset Managment purchased a new position in shares of Mettler-Toledo International during the 1st quarter worth approximately $211,000. Institutional investors and hedge funds own 95.07% of the company's stock.

Insiders Place Their Bets

In other Mettler-Toledo International news, insider Gerry Keller sold 240 shares of Mettler-Toledo International stock in a transaction dated 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 owned 259 shares in the company, valued at approximately $369,629.26. The trade was a 48.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas P. Salice sold 417 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the completion of the sale, the director directly owned 292 shares in the company, valued at $420,599.72. This trade represents a 58.82% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,312 shares of company stock worth $4,750,362. Corporate insiders own 0.71% of the company's stock.

Mettler-Toledo International Trading Up 0.6%

Shares of Mettler-Toledo International stock opened at $1,429.14 on Friday. 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 debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12. The company has a market capitalization of $28.64 billion, a P/E ratio of 32.17, a PEG ratio of 2.94 and a beta of 1.23. The company's fifty day moving average is $1,267.38 and its two-hundred day moving average is $1,274.21.

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, topping analysts' consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $10.09 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current year.

Analysts Set New Price Targets

MTD has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Morgan Stanley increased their price target on shares of Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price objective on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Six equities research 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, Mettler-Toledo International currently has a consensus rating of "Hold" and a consensus price target of $1,461.27.

Mettler-Toledo International Company 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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