Wealthspire Advisors LLC Purchases 1,518 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Wealthspire Advisors LLC increased its holdings in Mettler-Toledo International by 100%, acquiring an additional 1,518 shares, now holding a total of 3,036 shares valued at approximately $3.59 million.
• Institutional investors collectively own 95.07% of Mettler-Toledo International's stock, showcasing significant interest from large financial firms.
• Mettler-Toledo reported earnings of $10.09 per share for the last quarter, exceeding analyst expectations and reflecting a 3.9% increase in revenue year-over-year.

Wealthspire Advisors LLC lifted its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 100.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,036 shares of the medical instruments supplier's stock after purchasing an additional 1,518 shares during the quarter. Wealthspire Advisors LLC's holdings in Mettler-Toledo International were worth $3,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MTD. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mettler-Toledo International by 6.0% during 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 buying an additional 25,873 shares in the last quarter. GAMMA Investing LLC lifted its position in Mettler-Toledo International by 131,246.3% during the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after acquiring an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Mettler-Toledo International by 36.1% during 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 acquiring an additional 96,300 shares during the period. Principal Financial Group Inc. grew its holdings in Mettler-Toledo International by 2.1% in the first quarter. Principal Financial Group Inc. now owns 280,319 shares of the medical instruments supplier's stock worth $331,032,000 after purchasing an additional 5,756 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Mettler-Toledo International by 23.6% during the fourth quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock valued at $308,006,000 after purchasing an additional 48,027 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Insider Activity at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the firm's 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 value of $1,231,845.66. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by insiders.

Mettler-Toledo International Trading Up 1.0%

Shares of MTD stock opened at $1,244.26 on Wednesday. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,521.01. The stock has a market capitalization of $25.63 billion, a P/E ratio of 31.51, a P/E/G ratio of 3.70 and a beta of 1.34. The firm's 50 day moving average is $1,197.57 and its 200 day moving average is $1,192.45.

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 the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a negative return on equity of 476.07% and a net margin of 21.46%. The company had revenue of $983.22 million during the quarter, compared to analyst estimates of $957.41 million. During the same quarter in the previous year, the company posted $9.65 earnings per share. Mettler-Toledo International's revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTD. Wells Fargo & Company lifted their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their target price for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Finally, Bank of America upped their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $1,288.89.

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.

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