Canada Pension Plan Investment Board increased its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 260.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,500 shares of the medical instruments supplier’s stock after buying an additional 32,873 shares during the period. Canada Pension Plan Investment Board owned about 0.18% of Mettler-Toledo International worth $28,490,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in Mettler-Toledo International by 0.7% during the third quarter. New York State Teachers Retirement System now owns 41,491 shares of the medical instruments supplier’s stock worth $25,980,000 after buying an additional 290 shares in the last quarter. Eads & Heald Investment Counsel purchased a new stake in shares of Mettler-Toledo International in the third quarter valued at about $256,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Mettler-Toledo International in the third quarter valued at about $2,534,000. Page Arthur B purchased a new stake in shares of Mettler-Toledo International in the third quarter valued at about $848,000. Finally, Hemenway Trust Co LLC lifted its holdings in shares of Mettler-Toledo International by 20.7% in the third quarter. Hemenway Trust Co LLC now owns 699 shares of the medical instruments supplier’s stock valued at $438,000 after purchasing an additional 120 shares in the last quarter. 93.38% of the stock is currently owned by hedge funds and other institutional investors.
Mettler-Toledo International, Inc. (MTD) traded down $1.27 during trading on Wednesday, hitting $626.35. 81,720 shares of the stock traded hands, compared to its average volume of 157,580. The firm has a market capitalization of $16,020.00, a price-to-earnings ratio of 37.39, a P/E/G ratio of 2.89 and a beta of 1.13. Mettler-Toledo International, Inc. has a 52 week low of $407.87 and a 52 week high of $694.48. The company has a quick ratio of 1.11, a current ratio of 1.51 and a debt-to-equity ratio of 2.05.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $4.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.32 by $0.04. The business had revenue of $698.80 million during the quarter, compared to analyst estimates of $685.56 million. Mettler-Toledo International had a net margin of 16.44% and a return on equity of 96.81%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $3.89 EPS. sell-side analysts forecast that Mettler-Toledo International, Inc. will post 17.52 earnings per share for the current fiscal year.
In other Mettler-Toledo International news, insider William P. Donnelly sold 10,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $630.02, for a total transaction of $6,300,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Waldemar Rauch sold 2,203 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $594.27, for a total transaction of $1,309,176.81. Following the transaction, the insider now owns 7,771 shares in the company, valued at $4,618,072.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,591 shares of company stock valued at $27,262,591. Company insiders own 5.20% of the company’s stock.
Several brokerages have issued reports on MTD. BidaskClub raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $690.00 price objective on shares of Mettler-Toledo International in a research note on Tuesday, September 26th. Jefferies Group LLC reissued a “hold” rating and set a $550.00 price objective on shares of Mettler-Toledo International in a research note on Thursday, July 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $535.00 price objective (down previously from $565.00) on shares of Mettler-Toledo International in a research note on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $621.57.
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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