Norden Group LLC Has $550,000 Position in Mettler-Toledo International Inc. (NYSE:MTD)

Norden Group LLC grew its stake in Mettler-Toledo International Inc. (NYSE:MTDFree Report) by 74.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 413 shares of the medical instruments supplier’s stock after buying an additional 176 shares during the period. Norden Group LLC’s holdings in Mettler-Toledo International were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors raised its holdings in Mettler-Toledo International by 3.0% during the 4th quarter. Capital International Investors now owns 933,989 shares of the medical instruments supplier’s stock worth $1,132,891,000 after purchasing an additional 27,386 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Mettler-Toledo International by 169.4% in the 1st quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock worth $763,764,000 after acquiring an additional 360,786 shares in the last quarter. Morgan Stanley boosted its position in shares of Mettler-Toledo International by 9.6% during the 3rd quarter. Morgan Stanley now owns 267,167 shares of the medical instruments supplier’s stock valued at $296,041,000 after purchasing an additional 23,305 shares in the last quarter. Norges Bank acquired a new stake in Mettler-Toledo International during the fourth quarter worth approximately $320,847,000. Finally, Principal Financial Group Inc. increased its holdings in Mettler-Toledo International by 2.8% in the first quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock worth $330,169,000 after purchasing an additional 6,788 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Price Performance

Shares of MTD opened at $1,323.06 on Thursday. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,535.86. The stock’s fifty day moving average price is $1,416.80 and its two-hundred day moving average price is $1,301.40. The firm has a market cap of $28.26 billion, a PE ratio of 37.10, a PEG ratio of 3.57 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTDGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.61 by $1.28. The business had revenue of $925.95 million for the quarter, compared to analysts’ expectations of $879.72 million. Mettler-Toledo International had a negative return on equity of 662.32% and a net margin of 20.55%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $8.69 EPS. Sell-side analysts anticipate that Mettler-Toledo International Inc. will post 40.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $1,528.43, for a total value of $458,529.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at $7,510,705.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $7,510,705.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christian Magloth sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the completion of the transaction, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The disclosure for this sale can be found here. Insiders have sold a total of 3,278 shares of company stock worth $4,871,849 over the last 90 days. Corporate insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MTD. Robert W. Baird upped their price objective on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Citigroup boosted their target price on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a “sell” rating in a research report on Monday, May 13th. Evercore ISI increased their price target on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. The Goldman Sachs Group upped their target price on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Mettler-Toledo International currently has an average rating of “Hold” and an average price target of $1,301.25.

Read Our Latest Stock Analysis on MTD

Mettler-Toledo International Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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