TD Asset Management Inc Has $212.89 Million Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• TD Asset Management Inc increased its holdings in Mettler-Toledo International by 13.7%, acquiring an additional 21,722 shares, bringing its total ownership to 180,280 shares valued at approximately $212.89 million.
• Mettler-Toledo has received recent upgrades from several analysts, with Evercore ISI raising its price target from $1,200 to $1,280 and Citigroup upgrading the stock to a "buy" rating with a target of $1,400.
• The company reported earnings of $8.19 per share, surpassing analysts' expectations, despite a 4.6% year-over-year decline in quarterly revenue.

TD Asset Management Inc lifted its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,280 shares of the medical instruments supplier's stock after buying an additional 21,722 shares during the period. TD Asset Management Inc owned approximately 0.87% of Mettler-Toledo International worth $212,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MTD. Farther Finance Advisors LLC lifted its position in 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 purchasing an additional 25 shares during the period. QRG Capital Management Inc. lifted its position in Mettler-Toledo International by 29.4% in the first quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier's stock worth $577,000 after purchasing an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Mettler-Toledo International by 13.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,488 shares of the medical instruments supplier's stock worth $2,929,000 after purchasing an additional 292 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Mettler-Toledo International by 95.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier's stock worth $2,600,000 after purchasing an additional 1,073 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Mettler-Toledo International by 7.1% in the first quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier's stock worth $40,871,000 after purchasing an additional 2,296 shares during the period. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their target price for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Barclays assumed coverage on Mettler-Toledo International in a report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price target on the stock. Finally, Citigroup raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target on the stock in a report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of "Hold" and a consensus price target of $1,298.50.

Mettler-Toledo International Stock Up 0.2%

Shares of NYSE:MTD traded up $3.05 during trading on Wednesday, reaching $1,269.15. The stock had a trading volume of 35,452 shares, compared to its average volume of 174,006. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93. The firm has a market capitalization of $26.38 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 3.88 and a beta of 1.37. The stock has a fifty day simple moving average of $1,187.29 and a two-hundred day simple moving average of $1,194.11.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The company had revenue of $883.74 million during the quarter, compared to analysts' expectations of $876.61 million. During the same period in the prior year, the company earned $8.89 earnings per share. The business's quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts forecast that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Insider Transactions at Mettler-Toledo International

In related news, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by company insiders.

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.