Vestcor Inc Grows Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Vestcor Inc increased its stake in Mettler-Toledo International by 122.4%, now holding 2,317 shares valued at approximately $2.74 million.
• Mettler-Toledo International reported an EPS of $10.09 for its last fiscal quarter, exceeding analysts' expectations of $9.58 and reflecting a 3.9% increase in revenue compared to the previous year.
• Institutional investors currently own 95.07% of Mettler-Toledo International's shares, with multiple firms, including Greenleaf Trust and Sequoia Financial Advisors, increasing their holdings in the last quarter.

Vestcor Inc lifted its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 122.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,317 shares of the medical instruments supplier's stock after acquiring an additional 1,275 shares during the quarter. Vestcor Inc's holdings in Mettler-Toledo International were worth $2,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MTD. LPL Financial LLC boosted its stake in Mettler-Toledo International by 25.8% during the fourth quarter. LPL Financial LLC now owns 4,646 shares of the medical instruments supplier's stock valued at $5,686,000 after buying an additional 953 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Mettler-Toledo International by 4.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 662 shares of the medical instruments supplier's stock worth $825,000 after buying an additional 28 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Mettler-Toledo International by 5.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,510 shares of the medical instruments supplier's stock valued at $3,071,000 after purchasing an additional 122 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Mettler-Toledo International during the 4th quarter valued at about $44,000. Finally, Geode Capital Management LLC grew its holdings in shares of Mettler-Toledo International by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier's stock worth $682,340,000 after acquiring an additional 11,032 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Trading Down 2.8%

Shares of Mettler-Toledo International stock traded down $34.91 on Friday, hitting $1,198.77. 339,593 shares of the company traded hands, compared to its average volume of 155,291. The stock's 50 day moving average price is $1,193.61 and its 200-day moving average price is $1,193.27. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,521.01. The company has a market cap of $24.91 billion, a PE ratio of 30.36, a PEG ratio of 3.68 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping analysts' consensus estimates of $9.58 by $0.51. The company had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 556.53%. Mettler-Toledo International's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.65 earnings per share. As a group, research analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction on 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 transaction, the director directly owned 120 shares of the company's stock, valued at approximately $139,191.60. The trade was a 89.85% 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 the SEC website. 1.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MTD has been the topic of a number of analyst reports. Bank of America boosted their price target on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Wall Street Zen lowered Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird increased their price target on Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Citigroup raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price on the stock in a report on Monday, April 7th. Finally, Barclays began coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International currently has an average rating of "Hold" and a consensus target price of $1,298.50.

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.