Canoe Financial LP Boosts Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Canoe Financial LP lifted its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 576.5% during the fourth quarter, Holdings Channel reports. The fund owned 55,518 shares of the medical instruments supplier’s stock after purchasing an additional 47,311 shares during the quarter. Canoe Financial LP’s holdings in Mettler-Toledo International were worth $67,936,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MTD. Blue Trust Inc. increased its holdings in Mettler-Toledo International by 242.9% during the 3rd quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 17 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Mettler-Toledo International in the third quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new stake in Mettler-Toledo International in the second quarter valued at $42,000. Raleigh Capital Management Inc. boosted its stake in Mettler-Toledo International by 272.7% during the 3rd 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. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Mettler-Toledo International by 60.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 48 shares of the medical instruments supplier’s stock worth $72,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,295.77 on Friday. The stock’s fifty day moving average is $1,241.52 and its two-hundred day moving average is $1,344.14. The stock has a market capitalization of $27.34 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 3.83 and a beta of 1.12. Mettler-Toledo International Inc. has a 1 year low of $1,133.46 and a 1 year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The firm had revenue of $954.54 million during the quarter, compared to analyst estimates of $941.93 million. As a group, analysts predict that Mettler-Toledo International Inc. will post 40.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup raised shares of Mettler-Toledo International from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1,200.00 to $1,300.00 in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Evercore ISI upgraded Mettler-Toledo International from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $1,375.00 to $1,450.00 in a report on Thursday, January 2nd. Wolfe Research assumed coverage on Mettler-Toledo International in a research note on Friday, December 13th. They set a “peer perform” rating on the stock. Finally, Robert W. Baird lowered their target price on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1,351.25.

Insider Activity at Mettler-Toledo International

In other news, insider Gerry Keller sold 140 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1,254.09, for a total value of $175,572.60. Following the completion of the transaction, the insider now owns 6 shares of the company’s stock, valued at approximately $7,524.54. This represents a 95.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elisha W. Finney sold 76 shares of Mettler-Toledo International stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the sale, the director now owns 240 shares in the company, valued at approximately $314,820. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by 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.