Meridian Wealth Management LLC Acquires Shares of 446 Mettler-Toledo International Inc. (NYSE:MTD)

Meridian Wealth Management LLC purchased a new position in Mettler-Toledo International Inc. (NYSE:MTD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 446 shares of the medical instruments supplier’s stock, valued at approximately $669,000.

A number of other large investors have also recently made changes to their positions in MTD. Gateway Investment Advisers LLC purchased a new stake in shares of Mettler-Toledo International in the second quarter worth $685,000. Swedbank AB bought a new stake in Mettler-Toledo International during the 1st quarter valued at approximately $26,867,000. SG Americas Securities LLC boosted its position in Mettler-Toledo International by 52.9% during the 2nd quarter. SG Americas Securities LLC now owns 4,516 shares of the medical instruments supplier’s stock valued at $6,312,000 after acquiring an additional 1,562 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Mettler-Toledo International by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,240 shares of the medical instruments supplier’s stock valued at $1,860,000 after acquiring an additional 152 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of Mettler-Toledo International by 212.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $1,828,000 after purchasing an additional 889 shares in the last quarter. 95.07% of the stock is owned by institutional investors.

Mettler-Toledo International Trading Up 1.8 %

Shares of NYSE MTD opened at $1,217.97 on Monday. The firm’s 50-day moving average price is $1,361.85 and its 200-day moving average price is $1,399.98. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 3.95 and a beta of 1.16. Mettler-Toledo International Inc. has a 12-month low of $1,059.08 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The firm had revenue of $954.54 million for the quarter, compared to analysts’ expectations of $941.93 million. On average, equities analysts predict that Mettler-Toledo International Inc. will post 40.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Elisha W. Finney sold 76 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total value of $99,693.00. Following the sale, the director now directly owns 240 shares of the company’s stock, valued at $314,820. This represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTD has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a report on Monday, November 11th. Wells Fargo & Company cut their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Robert W. Baird cut their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Evercore ISI upped their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,338.75.

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.