Mettler-Toledo International Inc. (MTD) Position Increased by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC increased its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 220.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,567 shares of the medical instruments supplier’s stock after acquiring an additional 48,554 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.27% of Mettler-Toledo International worth $41,532,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in Mettler-Toledo International by 0.5% during the second quarter. State of Alaska Department of Revenue now owns 1,087 shares of the medical instruments supplier’s stock worth $639,000 after acquiring an additional 5 shares during the period. First Personal Financial Services lifted its holdings in Mettler-Toledo International by 2.8% during the second quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock worth $109,000 after acquiring an additional 5 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Mettler-Toledo International by 1.3% during the second quarter. Contravisory Investment Management Inc. now owns 558 shares of the medical instruments supplier’s stock worth $328,000 after acquiring an additional 7 shares during the period. Advisor Partners LLC lifted its holdings in Mettler-Toledo International by 3.5% during the second quarter. Advisor Partners LLC now owns 468 shares of the medical instruments supplier’s stock worth $275,000 after acquiring an additional 16 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in Mettler-Toledo International by 1.4% during the second quarter. Alps Advisors Inc. now owns 1,225 shares of the medical instruments supplier’s stock worth $721,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 93.08% of the company’s stock.
Shares of Mettler-Toledo International Inc. (NYSE MTD) traded up 0.65% during mid-day trading on Friday, hitting $665.48. The company’s stock had a trading volume of 9,901 shares. The company has a market cap of $17.08 billion, a price-to-earnings ratio of 40.92 and a beta of 1.11. Mettler-Toledo International Inc. has a 52-week low of $395.61 and a 52-week high of $666.16. The stock’s 50 day moving average price is $634.39 and its 200 day moving average price is $582.03.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.03. The firm had revenue of $653.70 million for the quarter, compared to analysts’ expectations of $646.68 million. Mettler-Toledo International had a return on equity of 90.36% and a net margin of 15.54%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 EPS. Equities analysts forecast that Mettler-Toledo International Inc. will post $17.37 EPS for the current year.
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In other news, insider Thomas Caratsch sold 150 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $578.00, for a total transaction of $86,700.00. Following the transaction, the insider now directly owns 920 shares of the company’s stock, valued at approximately $531,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas P. Salice sold 890 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $611.00, for a total value of $543,790.00. Following the transaction, the director now directly owns 62,437 shares in the company, valued at $38,149,007. The disclosure for this sale can be found here. Insiders have sold a total of 27,356 shares of company stock worth $16,150,829 over the last three months. Insiders own 5.20% of the company’s stock.
A number of analysts recently commented on the company. Bank of America Corporation lifted their price target on Mettler-Toledo International from $640.00 to $710.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Morgan Stanley reiterated an “equal weight” rating and set a $535.00 price target (down from $565.00) on shares of Mettler-Toledo International in a report on Friday, October 6th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $711.00 price target on the stock in a report on Thursday, September 21st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $690.00 price target on shares of Mettler-Toledo International in a report on Tuesday, September 26th. Finally, BidaskClub upgraded Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Mettler-Toledo International presently has a consensus rating of “Buy” and a consensus price target of $602.67.
Mettler-Toledo International Company Profile
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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