Daiichi Life Insurance Co. Ltd. Takes $764,000 Position in Mettler-Toledo International, Inc. $MTD

Daiichi Life Insurance Co. Ltd. bought a new stake in Mettler-Toledo International, Inc. (NYSE:MTD) during the second quarter, HoldingsChannel.com reports. The fund bought 598 shares of the medical instruments supplier’s stock, valued at approximately $764,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in Mettler-Toledo International by 83.3% during the first quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock worth $78,000 after purchasing an additional 30 shares during the period. Baird Financial Group Inc. grew its stake in shares of Mettler-Toledo International by 3.1% in the 2nd quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier’s stock valued at $1,582,000 after purchasing an additional 40 shares during the period. Jump Financial LLC raised its holdings in shares of Mettler-Toledo International by 44.6% in the 2nd quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier’s stock worth $476,000 after buying an additional 125 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Mettler-Toledo International by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier’s stock worth $4,740,000 after buying an additional 392 shares in the last quarter. Finally, AXA S.A. raised its holdings in shares of Mettler-Toledo International by 2.9% in the 2nd quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier’s stock worth $5,433,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Activity

In related news, Director Thomas P. Salice sold 417 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total value of $600,650.97. Following the completion of the sale, the director owned 292 shares of the company’s stock, valued at $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the completion of the sale, the chief financial officer directly owned 5,579 shares of the company’s stock, valued at $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,312 shares of company stock valued at $4,750,362 over the last three months. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MTD shares. Jefferies Financial Group boosted their price target on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wolfe Research began coverage on Mettler-Toledo International in a research note on Tuesday, June 2nd. They set a “peer perform” rating for the company. Stifel Nicolaus lifted their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Mettler-Toledo International from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird lowered their target price on shares of Mettler-Toledo International from $1,445.00 to $1,194.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1,461.27.

Mettler-Toledo International Trading Up 0.3%

MTD stock opened at $1,399.02 on Tuesday. The business has a fifty day moving average price of $1,324.55 and a 200 day moving average price of $1,273.73. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. Mettler-Toledo International, Inc. has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,525.17. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.87 and a beta of 1.23.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.09 earnings per share. Analysts expect that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.