Mettler-Toledo International, Inc. (NYSE:MTD) Position Increased by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Mettler-Toledo International by 137.7%, owning 30,891 shares worth approximately $36.48 million following the purchase of an additional 17,893 shares.
• During the first quarter, multiple institutional investors, including Wealth Enhancement Advisory Services LLC and Farther Finance Advisors LLC, also boosted their holdings in Mettler-Toledo International, indicating strong institutional interest.
• The company reported a quarterly earnings per share of $10.09 which exceeded analysts' expectations of $9.58, with a revenue increase of 3.9% compared to the previous year.

Citigroup Inc. raised its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 137.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,891 shares of the medical instruments supplier's stock after acquiring an additional 17,893 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Mettler-Toledo International worth $36,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Mettler-Toledo International by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,543,365 shares of the medical instruments supplier's stock worth $3,003,485,000 after buying an additional 30,535 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mettler-Toledo International by 6.0% in 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 purchasing an additional 25,873 shares during the period. GAMMA Investing LLC grew its holdings in Mettler-Toledo International by 131,246.3% in the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after purchasing an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Mettler-Toledo International by 36.1% in 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 purchasing an additional 96,300 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Mettler-Toledo International by 2.1% in 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 purchasing an additional 5,756 shares during the period. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Down 0.7%

Shares of NYSE MTD traded down $8.90 during trading on Thursday, reaching $1,315.16. 87,061 shares of the stock were exchanged, compared to its average volume of 175,391. The business's 50-day moving average price is $1,210.00 and its 200 day moving average price is $1,190.94. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,521.01. The company has a market capitalization of $27.09 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 3.88 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.58 by $0.51. The firm 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $9.65 earnings per share. As a group, sell-side analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the sale, the director directly owned 120 shares of the company's stock, valued at $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shawn Vadala sold 300 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $1,254.09, for a total transaction of $376,227.00. Following the completion of the sale, the chief financial officer directly owned 5,095 shares in the company, valued at $6,389,588.55. This represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTD shares. Robert W. Baird boosted their target price on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Wells Fargo & Company boosted their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Evercore ISI reduced their price target on shares of Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Bank of America lifted 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. Finally, Wall Street Zen cut shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Mettler-Toledo International currently has a consensus rating of "Hold" and a consensus target price of $1,288.89.

Mettler-Toledo International 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.