Northern Trust Corp Has $308.01 Million Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Northern Trust Corp lifted its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 251,705 shares of the medical instruments supplier's stock after buying an additional 48,027 shares during the quarter. Northern Trust Corp owned about 1.19% of Mettler-Toledo International worth $308,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTD. Norges Bank bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at about $372,954,000. Proficio Capital Partners LLC acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth approximately $163,216,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Mettler-Toledo International by 36.1% during the fourth 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 period. Massachusetts Financial Services Co. MA raised its position 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 valued at $262,211,000 after buying an additional 74,187 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $89,221,000. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Trading Down 1.6 %

Mettler-Toledo International stock traded down $17.62 during mid-day trading on Tuesday, reaching $1,073.51. The company had a trading volume of 45,268 shares, compared to its average volume of 145,894. The business has a fifty day simple moving average of $1,132.87 and a 200 day simple moving average of $1,229.48. The company has a market cap of $22.37 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,546.93.

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

Wall Street Analyst Weigh In

MTD has been the subject of a number of recent analyst reports. Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price for the company in a research report on Monday, April 7th. StockNews.com cut shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their target price for the company from $1,200.00 to $1,110.00 in a report on Monday. Evercore ISI upped their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Finally, Robert W. Baird decreased their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $1,296.13.

Insider Activity

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the business's 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 sale, the insider now directly owns 734 shares of the company's stock, valued at $964,248.46. The trade was a 51.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerry Keller sold 600 shares of Mettler-Toledo International stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the transaction, the insider now owns 6 shares in the company, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

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.