Mackenzie Financial Corp Purchases 338 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Mackenzie Financial Corp grew its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,268 shares of the medical instruments supplier's stock after buying an additional 338 shares during the period. Mackenzie Financial Corp's holdings in Mettler-Toledo International were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its holdings in shares of Mettler-Toledo International by 9.9% during the 4th quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier's stock valued at $713,627,000 after purchasing an additional 52,726 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mettler-Toledo International by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier's stock valued at $682,340,000 after purchasing an additional 11,032 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mettler-Toledo International by 6.0% during the 4th 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Mettler-Toledo International by 36.1% during the 4th 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Mettler-Toledo International during the 4th quarter valued at about $372,954,000. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

NYSE MTD traded down $16.85 on Friday, hitting $1,156.33. 317,154 shares of the stock were exchanged, compared to its average volume of 150,406. The business's fifty day moving average is $1,093.82 and its 200 day moving average is $1,206.12. Mettler-Toledo International Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93. The company has a market capitalization of $24.03 billion, a PE ratio of 28.53, a P/E/G ratio of 3.30 and a beta of 1.40.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The firm had revenue of $883.74 million for the quarter, compared to analyst estimates of $876.61 million. During the same period in the prior year, the firm posted $8.89 earnings per share. The company's quarterly revenue was down 4.6% compared to the same quarter last year. Analysts predict that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on MTD. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Evercore ISI lifted their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Citigroup raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price on the stock in a research report on Monday, April 7th. Wells Fargo & Company lifted their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Robert W. Baird dropped their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of "Hold" and a consensus price target of $1,302.11.

Insider Buying and Selling

In related news, Director Michael A. Kelly sold 1,062 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the transaction, the director now directly owns 120 shares of the company's stock, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.94% of the stock is owned by insiders.

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.