Fred Alger Management Inc. grew its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 88.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,200 shares of the medical instruments supplier’s stock after buying an additional 1,500 shares during the period. Fred Alger Management Inc.’s holdings in Mettler-Toledo International were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. AHL Partners LLP boosted its holdings in Mettler-Toledo International by 200.7% during the second quarter. AHL Partners LLP now owns 5,665 shares of the medical instruments supplier’s stock worth $3,334,000 after buying an additional 3,781 shares during the last quarter. Sun Life Financial INC boosted its holdings in Mettler-Toledo International by 2,585.7% during the second quarter. Sun Life Financial INC now owns 188 shares of the medical instruments supplier’s stock worth $111,000 after buying an additional 181 shares during the last quarter. Numeric Investors LLC boosted its holdings in Mettler-Toledo International by 3.9% during the second quarter. Numeric Investors LLC now owns 3,160 shares of the medical instruments supplier’s stock worth $1,860,000 after buying an additional 120 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Mettler-Toledo International during the second quarter worth about $1,643,000. Finally, OxFORD Asset Management LLP bought a new position in Mettler-Toledo International during the second quarter worth about $7,223,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

A number of equities analysts have issued reports on the company. BidaskClub upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $711.00 target price on the stock in a report on Thursday, September 21st. Morgan Stanley restated an “equal weight” rating and set a $535.00 target price (down previously from $565.00) on shares of Mettler-Toledo International in a report on Friday. Jefferies Group LLC restated a “hold” rating and set a $550.00 target price on shares of Mettler-Toledo International in a report on Thursday, July 27th. Finally, Wells Fargo & Company upgraded Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $589.33.

In related news, insider William P. Donnelly sold 2,845 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $576.92, for a total transaction of $1,641,337.40. Following the sale, the insider now owns 2,345 shares in the company, valued at approximately $1,352,877.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas P. Salice sold 890 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $611.00, for a total value of $543,790.00. Following the sale, the director now owns 62,437 shares in the company, valued at approximately $38,149,007. The disclosure for this sale can be found here. Insiders sold a total of 27,356 shares of company stock worth $16,150,829 in the last quarter. Corporate insiders own 5.20% of the company’s stock.

Mettler-Toledo International, Inc. (NYSE MTD) opened at 645.76 on Friday. Mettler-Toledo International, Inc. has a one year low of $395.61 and a one year high of $647.97. The firm’s 50-day moving average price is $616.52 and its 200-day moving average price is $570.40. The company has a market cap of $16.58 billion, a PE ratio of 39.71 and a beta of 1.11.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.03. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The firm had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. During the same quarter in the previous year, the company posted $3.22 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Mettler-Toledo International, Inc. will post $17.33 earnings per share for the current fiscal year.

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About Mettler-Toledo International

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.

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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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