Alliancebernstein L.P. grew its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,927 shares of the medical instruments supplier’s stock after acquiring an additional 76,478 shares during the period. Alliancebernstein L.P. owned about 3.89% of Mettler-Toledo International worth $974,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Mettler-Toledo International by 42.1% during the 3rd quarter. Versant Capital Management Inc now owns 27 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 8 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of Mettler-Toledo International by 2,700.0% in the third quarter. SJS Investment Consulting Inc. now owns 28 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 27 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Mettler-Toledo International in the third quarter worth $42,000. Salomon & Ludwin LLC bought a new stake in shares of Mettler-Toledo International during the 3rd quarter valued at $43,000. Finally, Quantbot Technologies LP bought a new stake in shares of Mettler-Toledo International during the 3rd quarter valued at $49,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.
Mettler-Toledo International Stock Performance
MTD stock opened at $1,174.59 on Friday. The firm has a fifty day moving average price of $1,378.52 and a 200 day moving average price of $1,368.53. Mettler-Toledo International, Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,525.17. The firm has a market cap of $23.88 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.46 and a beta of 1.43.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Mettler-Toledo International in a report on Tuesday, December 9th. They issued a “neutral” rating and a $1,475.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Mettler-Toledo International in a research report on Monday, December 29th. Barclays dropped their price objective on Mettler-Toledo International from $1,600.00 to $1,550.00 and set an “overweight” rating for the company in a research note on Monday, December 15th. Wall Street Zen upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Morgan Stanley decreased their target price on Mettler-Toledo International from $1,550.00 to $1,475.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and an average target price of $1,435.42.
Insider Buying and Selling
In other Mettler-Toledo International news, CFO Shawn Vadala sold 800 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1,410.12, for a total transaction of $1,128,096.00. Following the transaction, the chief financial officer owned 5,288 shares in the company, valued at $7,456,714.56. The trade was a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.94% of the stock is owned by insiders.
About Mettler-Toledo International
Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.
The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.
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