Legacy Capital Group California Inc. Increases Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Legacy Capital Group California Inc. grew its position in Mettler-Toledo International Inc. (NYSE:MTD) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413 shares of the medical instruments supplier’s stock after acquiring an additional 20 shares during the period. Legacy Capital Group California Inc.’s holdings in Mettler-Toledo International were worth $542,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in Mettler-Toledo International by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 176 shares of the medical instruments supplier’s stock valued at $242,000 after acquiring an additional 13 shares during the period. Raymond James Trust N.A. raised its position in shares of Mettler-Toledo International by 19.7% during the 1st quarter. Raymond James Trust N.A. now owns 176 shares of the medical instruments supplier’s stock worth $242,000 after purchasing an additional 29 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Mettler-Toledo International by 48.9% in the 1st quarter. Vontobel Holding Ltd. now owns 834 shares of the medical instruments supplier’s stock valued at $1,172,000 after buying an additional 274 shares in the last quarter. Sei Investments Co. boosted its holdings in Mettler-Toledo International by 4.2% in the 1st quarter. Sei Investments Co. now owns 16,305 shares of the medical instruments supplier’s stock worth $21,817,000 after buying an additional 662 shares during the last quarter. Finally, Prudential PLC acquired a new position in shares of Mettler-Toledo International during the first quarter valued at approximately $626,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Price Performance

Shares of MTD stock traded down $0.68 during trading hours on Friday, reaching $1,049.05. 294,299 shares of the stock were exchanged, compared to its average volume of 201,844. The business’s fifty day moving average is $1,061.16 and its two-hundred day moving average is $1,216.01. The firm has a market capitalization of $22.74 billion, a P/E ratio of 26.74, a P/E/G ratio of 5.33 and a beta of 1.17. Mettler-Toledo International Inc. has a 12-month low of $928.49 and a 12-month high of $1,615.97.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, November 9th. The medical instruments supplier reported $9.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.63 by $0.17. Mettler-Toledo International had a negative return on equity of 1,852.05% and a net margin of 22.24%. The business had revenue of $942.46 million during the quarter, compared to analysts’ expectations of $947.10 million. During the same period in the prior year, the firm posted $10.18 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Mettler-Toledo International Inc. will post 39.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Roland D. Diggelmann acquired 315 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $1,026.54 per share, with a total value of $323,360.10. Following the transaction, the director now owns 405 shares of the company’s stock, valued at $415,748.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Mettler-Toledo International from $1,300.00 to $1,100.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus dropped their price objective on shares of Mettler-Toledo International from $1,425.00 to $1,270.00 and set a “buy” rating for the company in a report on Monday, November 13th. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Saturday, November 11th. TheStreet cut shares of Mettler-Toledo International from a “b-” rating to a “c+” rating in a research note on Tuesday, August 15th. Finally, Robert W. Baird decreased their price objective on Mettler-Toledo International from $1,454.00 to $1,366.00 in a report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and a consensus target price of $1,302.29.

About Mettler-Toledo International

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.