Patton Fund Management Inc. purchased a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,252 shares of the medical instruments supplier’s stock, valued at approximately $2,954,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Mettler-Toledo International during the fourth quarter worth about $428,679,000. StonePine Asset Management Inc. grew its holdings in Mettler-Toledo International by 733.5% in the first quarter. StonePine Asset Management Inc. now owns 94,664 shares of the medical instruments supplier’s stock valued at $144,856,000 after purchasing an additional 83,307 shares during the period. Alliancebernstein L.P. increased its position in Mettler-Toledo International by 15.1% during the fourth quarter. Alliancebernstein L.P. now owns 532,108 shares of the medical instruments supplier’s stock worth $769,136,000 after purchasing an additional 69,852 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Mettler-Toledo International by 26.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 326,105 shares of the medical instruments supplier’s stock worth $471,369,000 after purchasing an additional 67,758 shares during the period. Finally, Canoe Financial LP acquired a new position in shares of Mettler-Toledo International in the 1st quarter valued at $77,670,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.
Mettler-Toledo International Stock Down 0.3 %
Shares of MTD traded down $3.76 during mid-day trading on Tuesday, reaching $1,131.21. 15,370 shares of the stock traded hands, compared to its average volume of 118,563. The stock has a fifty day simple moving average of $1,242.01 and a 200 day simple moving average of $1,354.92. Mettler-Toledo International Inc. has a 12-month low of $1,065.55 and a 12-month high of $1,615.97. The company has a quick ratio of 0.84, a current ratio of 1.24 and a debt-to-equity ratio of 76.98. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 3.03 and a beta of 1.15.
Analyst Ratings Changes
MTD has been the topic of several research reports. Robert W. Baird cut their target price on Mettler-Toledo International from $1,454.00 to $1,366.00 in a research report on Friday, July 28th. TheStreet downgraded shares of Mettler-Toledo International from a “b-” rating to a “c+” rating in a research report on Tuesday, August 15th. Wells Fargo & Company reduced their price target on shares of Mettler-Toledo International from $1,660.00 to $1,520.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Finally, StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International has an average rating of “Hold” and a consensus target price of $1,470.14.
Mettler-Toledo International Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the United States 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, 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.
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