NewEdge Wealth LLC Invests $303,000 in Mettler-Toledo International Inc. (NYSE:MTD)

NewEdge Wealth LLC purchased a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250 shares of the medical instruments supplier’s stock, valued at approximately $303,000.

Several other institutional investors also recently modified their holdings of MTD. Norges Bank acquired a new position in shares of Mettler-Toledo International during the fourth quarter worth $428,679,000. PineStone Asset Management Inc. increased its holdings in shares of Mettler-Toledo International by 280.4% during the third quarter. PineStone Asset Management Inc. now owns 152,335 shares of the medical instruments supplier’s stock worth $168,798,000 after buying an additional 112,291 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Mettler-Toledo International by 109,458.1% in the fourth quarter. International Assets Investment Management LLC now owns 67,926 shares of the medical instruments supplier’s stock valued at $82,392,000 after purchasing an additional 67,864 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Mettler-Toledo International by 26.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 326,105 shares of the medical instruments supplier’s stock valued at $471,369,000 after purchasing an additional 67,758 shares during the period. Finally, Comgest Global Investors S.A.S. increased its holdings in Mettler-Toledo International by 2,689.3% in the third quarter. Comgest Global Investors S.A.S. now owns 52,579 shares of the medical instruments supplier’s stock valued at $58,261,000 after purchasing an additional 50,694 shares during the period. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

MTD stock opened at $1,198.03 on Thursday. The stock has a market capitalization of $25.63 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.15. The company’s 50-day moving average is $1,269.99 and its 200-day moving average is $1,170.02. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,615.97.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Friday, February 9th. The medical instruments supplier reported $9.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.32 by ($0.92). Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. The company had revenue of $934.90 million for the quarter, compared to the consensus estimate of $959.45 million. During the same period last year, the company earned $12.10 EPS. Mettler-Toledo International’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, analysts anticipate that Mettler-Toledo International Inc. will post 39.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MTD shares. Evercore ISI increased their price objective on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Sunday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,233.25.

Insider Buying and Selling

In related news, insider Christian Magloth sold 400 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the sale, the insider now owns 734 shares in the company, valued at approximately $938,587.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Shawn Vadala sold 300 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1,210.83, for a total value of $363,249.00. Following the sale, the chief financial officer now owns 4,914 shares in the company, valued at approximately $5,950,018.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christian Magloth sold 400 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total transaction of $511,492.00. Following the completion of the sale, the insider now owns 734 shares in the company, valued at approximately $938,587.82. The disclosure for this sale can be found here. Insiders have sold 951 shares of company stock worth $1,170,256 in the last quarter. Insiders own 1.94% of the company’s stock.

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.