Promethos Capital LLC Boosts Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Promethos Capital LLC grew its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 131.1% in the second quarter, Holdings Channel reports. The institutional investor owned 1,710 shares of the medical instruments supplier’s stock after buying an additional 970 shares during the period. Promethos Capital LLC’s holdings in Mettler-Toledo International were worth $2,390,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Mettler-Toledo International during the 1st quarter worth $25,000. Family Firm Inc. purchased a new position in Mettler-Toledo International in the 2nd quarter valued at approximately $25,000. Spartan Planning & Wealth Management acquired a new position in Mettler-Toledo International during the fourth quarter worth $27,000. Bellevue Group AG purchased a new stake in Mettler-Toledo International during the fourth quarter worth $30,000. Finally, Mather Group LLC. acquired a new stake in Mettler-Toledo International in the first quarter valued at $32,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now owns 734 shares in the company, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Up 2.9 %

Shares of Mettler-Toledo International stock opened at $1,443.03 on Friday. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93. The business’s fifty day moving average is $1,407.70 and its two-hundred day moving average is $1,374.32. The firm has a market cap of $30.82 billion, a PE ratio of 40.47, a P/E/G ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.65. The firm had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $10.19 earnings per share. Equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MTD shares. Evercore ISI lifted their price target on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus raised their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company began coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International has a consensus rating of “Hold” and an average price target of $1,356.25.

Mettler-Toledo International Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.