Mettler-Toledo International, Inc. (NYSE:MTD) Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Mettler-Toledo International by 29.0% in Q1, owning 116,502 shares worth approximately $137.5 million.
• Several analysts have updated their price targets for Mettler-Toledo International, with the consensus target currently at $1,288.89 and a rating of "Hold."
• Mettler-Toledo reported a 3.9% increase in quarterly revenue year-over-year, surpassing analyst estimates with earnings per share of $10.09.

Russell Investments Group Ltd. grew its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 29.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,502 shares of the medical instruments supplier's stock after buying an additional 26,171 shares during the quarter. Russell Investments Group Ltd. owned 0.56% of Mettler-Toledo International worth $137,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MTD. GAMMA Investing LLC increased 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 worth $456,018,000 after buying an additional 385,864 shares in the last quarter. T. Rowe Price Investment Management Inc. increased 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 worth $444,327,000 after buying an additional 96,300 shares in the last quarter. Nuveen LLC purchased a new stake in Mettler-Toledo International in the 1st quarter worth $71,897,000. Northern Trust Corp increased its stake in Mettler-Toledo International by 23.6% in the 4th quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock worth $308,006,000 after buying an additional 48,027 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Mettler-Toledo International by 60.4% in the 1st quarter. AustralianSuper Pty Ltd now owns 114,986 shares of the medical instruments supplier's stock worth $135,788,000 after buying an additional 43,313 shares in the last quarter. 95.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

MTD has been the subject of a number of research analyst reports. Robert W. Baird raised their price objective 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. Wall Street Zen lowered Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. 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 price objective for the company. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price target for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $1,288.89.

Insider Transactions at Mettler-Toledo International

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

Mettler-Toledo International Trading Down 0.7%

Shares of Mettler-Toledo International stock traded down $8.90 during trading hours on Thursday, reaching $1,315.16. The stock had a trading volume of 87,061 shares, compared to its average volume of 175,391. The stock's 50 day moving average is $1,210.00 and its 200 day moving average is $1,190.94. The firm has a market capitalization of $27.09 billion, a PE ratio of 33.30, a PEG ratio of 3.88 and a beta of 1.34. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,521.01.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly 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. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The firm had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. During the same quarter in the prior year, the firm earned $9.65 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share 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.