Sone Capital Management LLC Takes Position in Mettler-Toledo International, Inc. $MTD

Key Points

• Sone Capital Management acquired 7,602 shares of Mettler-Toledo International in the second quarter, valued at approximately $9.7 million. Institutional investors and hedge funds collectively own 95.07% of the company.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and seven rate it a Hold, producing an overall “Hold” consensus and an average price target of $1,461.27. Recent price-target changes ranged from JPMorgan’s cut to $1,200 to Jefferies’ increase to $1,580.
• Mettler-Toledo reported quarterly EPS of $11.46, beating estimates of $10.78, while revenue rose 4.5% year over year to $1.03 billion. The stock opened at $1,399.02, up 0.3%, while company insiders have sold $4.75 million of shares over the past 90 days.

Sone Capital Management LLC acquired a new stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 7,602 shares of the medical instruments supplier's stock, valued at approximately $9,712,000.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of Mettler-Toledo International by 83.3% during the first quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier's stock worth $78,000 after acquiring an additional 30 shares during the period. Baird Financial Group Inc. lifted its position in Mettler-Toledo International by 3.1% in the 2nd quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier's stock valued at $1,582,000 after acquiring an additional 40 shares in the last quarter. Jump Financial LLC boosted its stake in Mettler-Toledo International by 44.6% in the 2nd quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier's stock worth $476,000 after purchasing an additional 125 shares during the period. Cerity Partners LLC boosted its stake in Mettler-Toledo International by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier's stock worth $4,740,000 after purchasing an additional 392 shares during the period. Finally, AXA S.A. increased its holdings in Mettler-Toledo International by 2.9% during the 2nd quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier's stock worth $5,433,000 after purchasing an additional 131 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating on the stock in a report on Monday, May 11th. Weiss Ratings upgraded Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Jefferies Financial Group lifted their target price on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Robert W. Baird reduced their price target on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $1,461.27.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 2,240 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the sale, the chief financial officer owned 5,579 shares in the company, valued at $7,989,128. This represents a 28.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gerry Keller sold 240 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total value of $342,513.60. Following the completion of the sale, the insider directly owned 259 shares of the company's stock, valued at approximately $369,629.26. The trade was a 48.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,312 shares of company stock valued at $4,750,362 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Mettler-Toledo International Trading Up 0.3%

Mettler-Toledo International stock opened at $1,399.02 on Tuesday. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.87 and a beta of 1.23. The firm has a 50-day moving average of $1,324.55 and a 200-day moving average of $1,273.73. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. Mettler-Toledo International, Inc. has a one year low of $1,023.05 and a one year high of $1,525.17.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $10.09 earnings per share. Mettler-Toledo International's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Mettler-Toledo International Profile

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company's product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.

Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International, Inc. (NYSE:MTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source