Canopy Partners LLC Acquires Shares of 136 Mettler-Toledo International Inc. (NYSE:MTD)

Canopy Partners LLC bought a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 136 shares of the medical instruments supplier’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. PineStone Asset Management Inc. raised its stake in shares of Mettler-Toledo International by 127.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after purchasing an additional 145,453 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Mettler-Toledo International by 149,870.0% during the third quarter. International Assets Investment Management LLC now owns 89,982 shares of the medical instruments supplier’s stock valued at $134,946,000 after buying an additional 89,922 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mettler-Toledo International by 88.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier’s stock worth $163,290,000 after acquiring an additional 57,509 shares during the period. Massachusetts Financial Services Co. MA raised its position in Mettler-Toledo International by 32.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier’s stock worth $199,777,000 after acquiring an additional 35,048 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Mettler-Toledo International in the 1st quarter valued at about $26,867,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the transaction, the director now directly owns 240 shares in the company, valued at approximately $314,820. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.94% of the company’s stock.

Mettler-Toledo International Price Performance

MTD opened at $1,217.97 on Friday. The company has a market capitalization of $25.70 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 3.95 and a beta of 1.16. Mettler-Toledo International Inc. has a fifty-two week low of $1,059.08 and a fifty-two week high of $1,546.93. The business has a 50-day moving average of $1,361.85 and a 200-day moving average of $1,397.91.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI upped their price target on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target 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. Wells Fargo & Company cut their price target on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Robert W. Baird decreased 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 research note on Monday, November 11th. Finally, Stifel Nicolaus reduced their target price on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a report on Monday, November 11th. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.