Cibc World Market Inc. Purchases New Stake in Mettler-Toledo International, Inc. $MTD

Cibc World Market Inc. acquired a new position in Mettler-Toledo International, Inc. (NYSE:MTD) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,458 shares of the medical instruments supplier’s stock, valued at approximately $8,250,000.

A number of other institutional investors have also recently bought and sold shares of MTD. Evergreen Capital Management LLC increased its holdings in shares of Mettler-Toledo International by 4.5% in the 4th quarter. Evergreen Capital Management LLC now owns 184 shares of the medical instruments supplier’s stock valued at $257,000 after purchasing an additional 8 shares during the period. Meridian Wealth Management LLC lifted its position in shares of Mettler-Toledo International by 1.7% in the fourth quarter. Meridian Wealth Management LLC now owns 488 shares of the medical instruments supplier’s stock worth $680,000 after purchasing an additional 8 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Mettler-Toledo International by 2.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 302 shares of the medical instruments supplier’s stock worth $421,000 after purchasing an additional 8 shares during the period. Values First Advisors Inc. grew its position in Mettler-Toledo International by 1.3% during the first quarter. Values First Advisors Inc. now owns 625 shares of the medical instruments supplier’s stock valued at $789,000 after purchasing an additional 8 shares in the last quarter. Finally, Torray Investment Partners LLC grew its position in Mettler-Toledo International by 0.5% during the first quarter. Torray Investment Partners LLC now owns 1,677 shares of the medical instruments supplier’s stock valued at $2,115,000 after purchasing an additional 8 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

NYSE MTD opened at $1,402.64 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The stock has a market capitalization of $28.11 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.88 and a beta of 1.23. The company has a 50 day moving average price of $1,329.55 and a two-hundred day moving average price of $1,273.83. Mettler-Toledo International, Inc. has a 12-month low of $1,023.05 and a 12-month high of $1,525.17.

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

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, Director Thomas P. Salice sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the transaction, the director directly owned 292 shares in the company, valued at $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Vadala sold 2,240 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was 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 represents a 28.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,312 shares of company stock valued at $4,750,362. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

MTD has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Mettler-Toledo International in a research note on Tuesday, June 2nd. They set a “peer perform” rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Citigroup reduced their price objective on Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Robert W. Baird lowered their target price on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a “neutral” rating on the stock in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1,461.27.

Mettler-Toledo International 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.