Rafferty Asset Management LLC Buys 246 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Rafferty Asset Management LLC increased its holdings in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the medical instruments supplier's stock after purchasing an additional 246 shares during the quarter. Rafferty Asset Management LLC's holdings in Mettler-Toledo International were worth $2,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTD. JPMorgan Chase & Co. raised its holdings in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier's stock valued at $332,634,000 after acquiring an additional 28,478 shares during the period. Allworth Financial LP raised its holdings in shares of Mettler-Toledo International by 367.4% during the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier's stock valued at $285,000 after acquiring an additional 169 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Mettler-Toledo International by 18.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,370 shares of the medical instruments supplier's stock valued at $42,058,000 after acquiring an additional 5,234 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Mettler-Toledo International by 773.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,336 shares of the medical instruments supplier's stock valued at $6,530,000 after acquiring an additional 4,725 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Mettler-Toledo International by 5.8% during the fourth quarter. Impax Asset Management Group plc now owns 198,852 shares of the medical instruments supplier's stock valued at $243,331,000 after acquiring an additional 10,830 shares during the period. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Price Performance

MTD traded down $20.58 on Friday, reaching $1,115.43. 247,891 shares of the company traded hands, compared to its average volume of 150,020. The company has a market cap of $23.18 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a 52-week low of $946.69 and a 52-week high of $1,546.93. The stock's 50 day moving average price is $1,099.07 and its 200-day moving average price is $1,209.39.

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

Insiders Place Their Bets

In other news, insider Christian Magloth sold 790 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $964,248.46. The trade was a 51.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.94% of the company's stock.

Wall Street Analysts Forecast Growth

MTD has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and cut their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their price target for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Evercore ISI boosted their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price objective on shares of 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, Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research report on Monday, April 7th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $1,302.11.

About Mettler-Toledo International

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.