Mettler-Toledo International, Inc. $MTD Stock Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Mettler-Toledo stake by 1,214.7% in the third quarter, ending with 245,978 shares valued at about $371.7 million. Institutional investors collectively own 95.07% of the stock.
• Mettler-Toledo beat quarterly expectations, reporting adjusted EPS of $12.57 versus $12.13 expected and revenue of $1.09 billion, up 6.3% year over year.
• Analyst sentiment is mixed: the stock carries a consensus “Hold” rating and average target of $1,595.77, while recent reports included both higher targets and neutral ratings.

Aberdeen Group plc grew its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 1,214.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 245,978 shares of the medical instruments supplier's stock after purchasing an additional 227,268 shares during the quarter. Aberdeen Group plc owned approximately 1.23% of Mettler-Toledo International worth $371,660,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Mettler-Toledo International during the 2nd quarter worth $2,404,713,000. Bank of New York Mellon Corp purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at about $762,553,000. Wellington Management Group LLP increased its position in Mettler-Toledo International by 908.6% during the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock worth $586,459,000 after purchasing an additional 413,547 shares during the last quarter. Amundi increased its position in Mettler-Toledo International by 40.7% during the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier's stock worth $307,420,000 after purchasing an additional 69,620 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Mettler-Toledo International by 60.9% during the first quarter. Bank of America Corp DE now owns 207,286 shares of the medical instruments supplier's stock worth $261,429,000 after purchasing an additional 78,487 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mettler-Toledo International

In other news, CEO Patrick Kaltenbach sold 942 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the completion of the transaction, the chief executive officer owned 4,480 shares in the company, valued at approximately $6,384,000. This represents a 17.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gerry Keller sold 435 shares of the company's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,734.05, for a total transaction of $754,311.75. Following the completion of the transaction, the insider owned 259 shares of the company's stock, valued at approximately $449,118.95. The trade was a 62.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by insiders.

Mettler-Toledo International Trading Up 0.4%

Shares of NYSE:MTD opened at $1,738.26 on Friday. Mettler-Toledo International, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,806.58. The company's 50 day moving average is $1,561.27 and its two-hundred day moving average is $1,353.93. The company has a market cap of $34.57 billion, a PE ratio of 37.67, a P/E/G ratio of 3.45 and a beta of 1.16. The company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 EPS for the quarter, beating the consensus estimate of $12.13 by $0.44. Mettler-Toledo International had a return on equity of 15,012.71% and a net margin of 22.25%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $11.15 earnings per share. Mettler-Toledo International's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that Mettler-Toledo International, Inc. will post 47.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

MTD has been the subject of several recent analyst reports. Weiss Ratings raised Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Jefferies Financial Group upped their price target on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Barclays increased their price target on Mettler-Toledo International from $1,700.00 to $1,900.00 and gave the stock an "overweight" rating in a report on Monday, November 9th. Royal Bank Of Canada initiated coverage on shares of Mettler-Toledo International in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Mettler-Toledo International from $1,550.00 to $1,725.00 and gave the company a "neutral" rating in a report on Monday, November 9th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $1,595.77.

Mettler-Toledo International Company Profile

Mettler-Toledo International develops and manufactures precision instruments and systems used in laboratory, industrial, and retail settings. Its products include laboratory balances and analytical instruments, industrial scales and weighing systems, and equipment for measuring and monitoring production processes. The company also supplies product-inspection systems, including checkweighers, metal detectors, and X-ray inspection equipment, along with related software, installation, maintenance, and calibration services.

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