Eventide Asset Management LLC Acquires 5,504 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Eventide Asset Management LLC lifted its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,129 shares of the medical instruments supplier’s stock after buying an additional 5,504 shares during the quarter. Mettler-Toledo International makes up approximately 2.0% of Eventide Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Eventide Asset Management LLC’s holdings in Mettler-Toledo International were worth $118,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Atlantic Union Bankshares Corp increased its stake in shares of Mettler-Toledo International by 13.3% during the third quarter. Atlantic Union Bankshares Corp now owns 2,073 shares of the medical instruments supplier’s stock worth $3,109,000 after purchasing an additional 244 shares in the last quarter. Capstone Investment Advisors LLC increased its stake in Mettler-Toledo International by 4.4% during the 3rd quarter. Capstone Investment Advisors LLC now owns 517 shares of the medical instruments supplier’s stock worth $775,000 after buying an additional 22 shares in the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Mettler-Toledo International by 74.2% during the third quarter. Vinva Investment Management Ltd now owns 2,364 shares of the medical instruments supplier’s stock valued at $3,496,000 after acquiring an additional 1,007 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Mettler-Toledo International by 12.3% in the third quarter. Public Sector Pension Investment Board now owns 915 shares of the medical instruments supplier’s stock valued at $1,372,000 after acquiring an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mettler-Toledo International by 4.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,989 shares of the medical instruments supplier’s stock worth $8,982,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was 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 $314,820. This represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD opened at $1,243.40 on Friday. The business’s 50 day moving average price is $1,348.27 and its 200 day moving average price is $1,395.43. The stock has a market capitalization of $26.24 billion, a PE ratio of 33.52, a P/E/G ratio of 4.10 and a beta of 1.16. Mettler-Toledo International Inc. has a one year low of $1,059.08 and a one year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping analysts’ consensus estimates of $10.00 by $0.21. The business had revenue of $954.54 million during the quarter, compared to analysts’ expectations of $941.93 million. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. As a group, equities research analysts forecast that Mettler-Toledo International Inc. will post 40.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MTD shares. Evercore ISI increased their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Robert W. Baird cut their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Stifel Nicolaus lowered their target price on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company cut their price target on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1,338.75.

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.