Millennium Management LLC Has $53.04 Million Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Millennium Management LLC lifted its position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 2,411.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,346 shares of the medical instruments supplier's stock after acquiring an additional 41,620 shares during the period. Millennium Management LLC owned approximately 0.21% of Mettler-Toledo International worth $53,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Mettler-Toledo International during the 4th quarter valued at $33,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Mettler-Toledo International during the fourth quarter valued at approximately $44,000. Blue Trust Inc. boosted its stake in shares of Mettler-Toledo International by 70.8% during the fourth quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier's stock valued at $50,000 after purchasing an additional 17 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Mettler-Toledo International during the fourth quarter valued at approximately $54,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Mettler-Toledo International by 4,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier's stock worth $56,000 after buying an additional 45 shares during the last quarter. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

MTD stock traded up $26.36 on Tuesday, reaching $1,185.46. 354,681 shares of the company traded hands, compared to its average volume of 147,888. The company has a market cap of $24.64 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a one year low of $946.69 and a one year high of $1,546.93. The firm has a fifty day simple moving average of $1,105.88 and a 200-day simple moving average of $1,216.32.

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

Insider Buying and Selling

In other news, insider Christian Magloth sold 790 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, February 24th. The shares were 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 directly owns 734 shares in the company, valued at approximately $964,248.46. This trade represents a 51.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MTD has been the topic of several research analyst reports. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their target price for the company from $1,530.00 to $1,350.00 in a research report on Tuesday. Robert W. Baird dropped their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Evercore ISI boosted their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Wells Fargo & Company upped 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, Citigroup raised shares of 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of "Hold" and a consensus target price of $1,302.11.

Mettler-Toledo International Company 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.