Northern Trust Corp Increases Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Northern Trust Corp boosted its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 approximately 1.19% of Mettler-Toledo International worth $308,006,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Christian Magloth sold 790 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at approximately $964,248.46. The trade was a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerry Keller sold 600 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the completion of the transaction, the insider now directly owns 6 shares in the company, valued at approximately $8,108.04. This represents a 99.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTD. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a report on Monday, April 7th. Evercore ISI upped their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Robert W. Baird reduced 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 research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their target price on Mettler-Toledo International from $1,400.00 to $1,125.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $1,304.25.

Mettler-Toledo International Stock Performance

Mettler-Toledo International stock traded up $47.37 during midday trading on Friday, reaching $1,103.95. 325,926 shares of the stock were exchanged, compared to its average volume of 145,930. The company's fifty day moving average is $1,136.87 and its 200-day moving average is $1,232.39. Mettler-Toledo International Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93. The firm has a market cap of $23.01 billion, a PE ratio of 27.24, a PEG ratio of 3.30 and a beta of 1.28.

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 (EPS) 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 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 business posted $8.89 earnings per share. The firm's revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.

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.