Mackenzie Financial Corp Has $3.80 Million Position in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Mackenzie Financial Corp increased its stake in Mettler-Toledo International by 41.9%, now owning 3,218 shares valued at approximately $3.8 million.
• Several analysts have updated their ratings for Mettler-Toledo, with Barclays initiating coverage with an "overweight" rating and a price target of $1,325.00.
• Mettler-Toledo reported earnings of $10.09 per share for the last quarter, exceeding expectations and showing a 3.9% increase in revenue compared to the same period last year.

Mackenzie Financial Corp lifted its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 41.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,218 shares of the medical instruments supplier's stock after buying an additional 950 shares during the period. Mackenzie Financial Corp's holdings in Mettler-Toledo International were worth $3,800,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MTD. Golden State Wealth Management LLC raised its position in shares of Mettler-Toledo International by 583.3% in the 1st quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier's stock valued at $48,000 after purchasing an additional 35 shares during the last quarter. Menard Financial Group LLC bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $67,000. Blue Trust Inc. lifted its holdings in shares of Mettler-Toledo International by 520.0% during the first quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier's stock valued at $73,000 after acquiring an additional 52 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Mettler-Toledo International by 39.1% in the first quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock worth $103,000 after acquiring an additional 25 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Mettler-Toledo International by 63.0% in the fourth quarter. Huntington National Bank now owns 88 shares of the medical instruments supplier's stock valued at $108,000 after acquiring an additional 34 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction dated 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 sale, the director owned 120 shares in the company, valued at approximately $139,191.60. The trade was a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTD shares. Evercore ISI cut their target price 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. Robert W. Baird raised their price target 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. Bank of America upped 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 report on Thursday, June 26th. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price objective for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Finally, UBS Group raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $1,288.89.

Mettler-Toledo International Stock Down 2.2%

Shares of NYSE:MTD traded down $26.89 on Wednesday, hitting $1,217.05. The company had a trading volume of 79,591 shares, compared to its average volume of 175,793. The firm's 50-day simple moving average is $1,197.57 and its two-hundred day simple moving average is $1,192.45. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 3.70 and a beta of 1.34. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,521.01.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share for the quarter, topping the consensus estimate of $9.58 by $0.51. The business had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. Mettler-Toledo International had a negative return on equity of 476.07% and a net margin of 21.46%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $9.65 earnings per share. Equities research analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Mettler-Toledo International Company 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.