Assenagon Asset Management S.A. Boosts Position in Mettler-Toledo International Inc. (NYSE:MTD)

Assenagon Asset Management S.A. raised its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 45.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,330 shares of the medical instruments supplier’s stock after purchasing an additional 10,170 shares during the period. Assenagon Asset Management S.A. owned 0.15% of Mettler-Toledo International worth $48,485,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Mettler-Toledo International by 149,870.0% in the 3rd quarter. International Assets Investment Management LLC now owns 89,982 shares of the medical instruments supplier’s stock valued at $134,946,000 after buying an additional 89,922 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Mettler-Toledo International by 272.7% in the third quarter. Raleigh Capital Management Inc. now owns 41 shares of the medical instruments supplier’s stock valued at $61,000 after acquiring an additional 30 shares during the last quarter. Jade Capital Advisors LLC acquired a new position in Mettler-Toledo International in the third quarter valued at $1,500,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Mettler-Toledo International by 60.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 48 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 18 shares during the last quarter. Finally, Crew Capital Management Ltd. increased its position in shares of Mettler-Toledo International by 13.0% during the third quarter. Crew Capital Management Ltd. now owns 755 shares of the medical instruments supplier’s stock worth $1,132,000 after purchasing an additional 87 shares in the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Down 2.0 %

Shares of NYSE:MTD opened at $1,293.38 on Friday. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 4.24 and a beta of 1.14. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93. The firm’s 50-day simple moving average is $1,421.35 and its 200-day simple moving average is $1,394.57.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.65. The company had revenue of $946.75 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.19 EPS. On average, research analysts forecast that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Stifel Nicolaus increased their price objective on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 target price on the stock. Evercore ISI increased their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,363.75.

Insider Buying and Selling at Mettler-Toledo International

In other news, insider Christian Magloth sold 1,000 shares of the company’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 transaction, the insider now directly owns 734 shares of the company’s stock, valued at $1,044,459.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shawn Vadala sold 250 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Mettler-Toledo International Company 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.