Nuveen LLC Takes $71.90 Million Position in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Nuveen LLC has invested approximately $71.90 million in Mettler-Toledo International, acquiring around 60,883 shares, which represents about 0.29% of the company.
• Mettler-Toledo's stock has seen significant institutional interest, with 95.07% of its shares owned by institutional investors.
• In its most recent quarterly earnings, Mettler-Toledo reported an EPS of $10.09, exceeding analysts' estimates of $9.58, with revenues reaching $983.22 million.

Nuveen LLC purchased a new stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,883 shares of the medical instruments supplier's stock, valued at approximately $71,897,000. Nuveen LLC owned 0.29% of Mettler-Toledo International at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Mettler-Toledo International by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 2,543,365 shares of the medical instruments supplier's stock valued at $3,003,485,000 after purchasing an additional 30,535 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Mettler-Toledo International by 6.0% in 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 during the period. GAMMA Investing LLC boosted its stake in Mettler-Toledo International by 131,246.3% in the 1st 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. boosted its stake in Mettler-Toledo International by 36.1% in 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 during the period. Finally, Principal Financial Group Inc. boosted its stake in Mettler-Toledo International by 2.1% in the 1st 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 institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTD shares. Robert W. Baird upped their target price on Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and cut their target price for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Evercore ISI cut their target price on Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their target price for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Finally, Barclays initiated coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 target price for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Mettler-Toledo International presently has an average rating of "Hold" and an average price target of $1,288.89.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $2.03 on Friday, hitting $1,315.67. 135,663 shares of the company's stock were exchanged, compared to its average volume of 169,327. The stock has a market cap of $27.10 billion, a P/E ratio of 33.32, a price-to-earnings-growth ratio of 3.94 and a beta of 1.34. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,521.01. The company has a 50 day moving average of $1,215.67 and a 200 day moving average of $1,190.48.

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

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, Director Thomas P. Salice sold 1,062 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $1,300.90, for a total value of $1,381,555.80. Following the completion of the transaction, the director directly owned 283 shares in the company, valued at approximately $368,154.70. This trade represents a 78.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction dated 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 completion of the transaction, the director 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 disclosure for this sale can be found here. Over the last three months, insiders sold 2,424 shares of company stock worth $2,989,628. 1.94% of the stock is currently 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.