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

Key Points

• Assenagon Asset Management increased its Mettler-Toledo stake by 48.5% in the third quarter, acquiring 16,292 additional shares and bringing its holdings to 49,900 shares valued at approximately $75.4 million. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly EPS of $11.46, exceeding estimates of $10.78, while revenue reached $1.03 billion and rose 4.5% year over year. Analysts expect full-year EPS of approximately $47.37.
• The stock opened at $1,619.63, near its 52-week high, but analyst sentiment remains mixed: the consensus rating is Hold with a $1,469.15 price target, while company insiders sold more than $6.09 million in shares over the past three months.

Assenagon Asset Management S.A. grew its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 48.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,900 shares of the medical instruments supplier's stock after acquiring an additional 16,292 shares during the period. Assenagon Asset Management S.A. owned 0.25% of Mettler-Toledo International worth $75,396,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. XXEC Inc. bought a new stake in shares of Mettler-Toledo International in the second quarter valued at approximately $77,044,000. BlackRock Inc. acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth $2,404,713,000. T. Rowe Price Investment Management Inc. raised its stake in Mettler-Toledo International by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier's stock worth $964,174,000 after acquiring an additional 3,157 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Mettler-Toledo International in the second quarter worth about $762,553,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Mettler-Toledo International by 908.6% in the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock worth $586,459,000 after acquiring an additional 413,547 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Stock Performance

Shares of Mettler-Toledo International stock opened at $1,619.63 on Friday. 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 $1,659.70. The business has a 50-day simple moving average of $1,442.37 and a 200 day simple moving average of $1,314.00. The firm has a market capitalization of $32.46 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.30 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $10.09 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Mettler-Toledo International, Inc. will post 47.37 earnings per share for the current fiscal year.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 2,240 shares of the firm's stock in a transaction 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 directly owned 5,579 shares of the company's stock, valued at $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the completion of the sale, the chief executive officer directly owned 4,480 shares of the company's stock, valued at approximately $6,384,000. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,254 shares of company stock worth $6,092,712. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTD has been the topic of several research reports. Royal Bank Of Canada began coverage on shares of Mettler-Toledo International in a report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price target on the stock. Stifel Nicolaus raised their price objective 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. Jefferies Financial Group boosted their price objective on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Finally, Rothschild & Co Redburn began coverage on Mettler-Toledo International in a research note on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $1,469.15.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company's solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.

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