Suncoast Equity Management Purchases 9 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Suncoast Equity Management boosted its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 460 shares of the medical instruments supplier’s stock after buying an additional 9 shares during the quarter. Suncoast Equity Management’s holdings in Mettler-Toledo International were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MTD. PineStone Asset Management Inc. raised its stake in shares of Mettler-Toledo International by 127.4% during the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after acquiring an additional 145,453 shares during the last quarter. Capital International Investors raised its position in Mettler-Toledo International by 15.1% during the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock valued at $1,431,696,000 after purchasing an additional 141,431 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mettler-Toledo International by 88.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier’s stock worth $163,290,000 after buying an additional 57,509 shares during the period. TD Asset Management Inc grew its position in shares of Mettler-Toledo International by 53.1% in the 1st quarter. TD Asset Management Inc now owns 154,381 shares of the medical instruments supplier’s stock worth $205,526,000 after buying an additional 53,561 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Mettler-Toledo International by 32.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier’s stock valued at $199,777,000 after buying an additional 35,048 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Down 0.9 %

NYSE:MTD traded down $12.02 during mid-day trading on Monday, reaching $1,361.96. The company’s stock had a trading volume of 26,296 shares, compared to its average volume of 132,607. The firm has a market capitalization of $29.09 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 4.24 and a beta of 1.14. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,546.93. The stock has a fifty day moving average of $1,424.61 and a 200-day moving average of $1,394.17.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.65. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The firm had revenue of $946.75 million during the quarter, compared to analyst estimates of $929.13 million. During the same period in the previous year, the firm earned $10.19 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts expect that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTD. JPMorgan Chase & Co. raised their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Evercore ISI lifted their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company started coverage on shares of Mettler-Toledo International in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,363.75.

Insider Activity

In other news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at $6,884,514. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at $6,884,514. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

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.