Capital Group Private Client Services Inc. Raises Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Capital Group Private Client Services Inc. raised its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 33.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,232 shares of the medical instruments supplier’s stock after purchasing an additional 1,303 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Mettler-Toledo International were worth $6,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTD. Bank of New York Mellon Corp increased its holdings in shares of Mettler-Toledo International by 169.4% during the 1st quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after purchasing an additional 360,786 shares in the last quarter. Norges Bank acquired a new position in shares of Mettler-Toledo International in the fourth quarter worth about $320,847,000. Principal Financial Group Inc. boosted its stake in shares of Mettler-Toledo International by 65.4% during the 4th quarter. Principal Financial Group Inc. now owns 241,219 shares of the medical instruments supplier’s stock worth $292,589,000 after acquiring an additional 95,421 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Mettler-Toledo International by 109,458.1% during the 4th quarter. International Assets Investment Management LLC now owns 67,926 shares of the medical instruments supplier’s stock valued at $82,392,000 after acquiring an additional 67,864 shares during the period. Finally, Corient Private Wealth LLC increased its stake in shares of Mettler-Toledo International by 854.0% in the 4th quarter. Corient Private Wealth LLC now owns 74,707 shares of the medical instruments supplier’s stock valued at $90,617,000 after purchasing an additional 66,876 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $7,510,705.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at approximately $7,510,705.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas P. Salice sold 1,268 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total transaction of $1,889,548.24. Following the completion of the sale, the director now owns 244 shares in the company, valued at $363,603.92. The disclosure for this sale can be found here. Insiders sold a total of 3,278 shares of company stock worth $4,871,849 over the last 90 days. Corporate insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

MTD has been the topic of a number of recent analyst reports. Citigroup increased their price target on Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a “sell” rating in a research report on Monday, May 13th. The Goldman Sachs Group boosted their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Evercore ISI raised their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their target price on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1,301.25.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $39.08 on Friday, hitting $1,450.08. The stock had a trading volume of 154,800 shares, compared to its average volume of 144,362. The company’s 50 day moving average price is $1,415.40 and its 200-day moving average price is $1,315.94. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,535.86. The firm has a market capitalization of $30.97 billion, a P/E ratio of 40.66, a P/E/G ratio of 3.71 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. The company had revenue of $925.95 million for the quarter, compared to analyst estimates of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.69 earnings per share. On average, equities analysts forecast that Mettler-Toledo International Inc. will post 40.13 EPS for the current year.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.