Meridiem Capital Partners LP Makes New $29.50 Million Investment in Mettler-Toledo International Inc. (NYSE:MTD)

Meridiem Capital Partners LP purchased a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,107 shares of the medical instruments supplier's stock, valued at approximately $29,499,000. Mettler-Toledo International makes up 2.6% of Meridiem Capital Partners LP's holdings, making the stock its 15th largest holding. Meridiem Capital Partners LP owned about 0.12% of Mettler-Toledo International as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Mettler-Toledo International during the fourth quarter valued at $372,954,000. Proficio Capital Partners LLC acquired a new stake in Mettler-Toledo International in the fourth quarter valued at $163,216,000. T. Rowe Price Investment Management Inc. raised 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 worth $444,327,000 after purchasing an additional 96,300 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Mettler-Toledo International by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock worth $262,211,000 after acquiring an additional 74,187 shares during the period. Finally, Seilern Investment Management Ltd bought a new stake in Mettler-Toledo International in the fourth quarter valued at approximately $89,221,000. 95.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on MTD shares. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price target for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Robert W. Baird decreased their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. 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 research note on Monday, April 7th. Wells Fargo & Company raised their price objective on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, StockNews.com lowered shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Mettler-Toledo International has an average rating of "Hold" and a consensus price target of $1,296.13.

Mettler-Toledo International Trading Up 1.4%

Shares of MTD traded up $15.57 during trading hours on Friday, reaching $1,158.93. The stock had a trading volume of 148,650 shares, compared to its average volume of 146,526. The firm has a 50-day simple moving average of $1,108.72 and a 200 day simple moving average of $1,219.65. Mettler-Toledo International Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 3.30 and a beta of 1.40.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.90 by $0.29. The firm had revenue of $883.74 million for the quarter, compared to analyst estimates of $876.61 million. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The business's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $8.89 earnings per share. On average, equities analysts forecast that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

Insider Buying and Selling at Mettler-Toledo International

In related news, insider Christian Magloth sold 790 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the completion of the sale, the insider now owns 734 shares in the company, valued at approximately $964,248.46. This represents a 51.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.94% of the company's stock.

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.