Rakuten Investment Management Inc. purchased a new position in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 98,583 shares of the medical instruments supplier’s stock, valued at approximately $121,021,000. Mettler-Toledo International makes up approximately 0.4% of Rakuten Investment Management Inc.’s portfolio, making the stock its 21st biggest holding. Rakuten Investment Management Inc. owned 0.48% of Mettler-Toledo International at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in Mettler-Toledo International by 83.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock worth $78,000 after purchasing an additional 30 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Mettler-Toledo International by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,490 shares of the medical instruments supplier’s stock valued at $3,011,000 after buying an additional 288 shares during the period. CX Institutional boosted its holdings in shares of Mettler-Toledo International by 18.2% in the second quarter. CX Institutional now owns 175 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 27 shares during the period. GAMMA Investing LLC increased its position in shares of Mettler-Toledo International by 53.5% during the second quarter. GAMMA Investing LLC now owns 502 shares of the medical instruments supplier’s stock worth $590,000 after acquiring an additional 175 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Mettler-Toledo International by 9.0% during the second quarter. Fifth Third Bancorp now owns 888 shares of the medical instruments supplier’s stock worth $1,043,000 after acquiring an additional 73 shares during the period. Institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Stock Down 3.9%
MTD stock opened at $1,403.44 on Wednesday. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 4.34 and a beta of 1.41. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,525.17. The business has a 50 day moving average price of $1,432.46 and a two-hundred day moving average price of $1,342.56.
Insider Buying and Selling
In related news, Director Elisha W. Finney sold 474 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $1,433.57, for a total value of $679,512.18. Following the completion of the sale, the director directly owned 311 shares in the company, valued at approximately $445,840.27. This trade represents a 60.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 1,895 shares of Mettler-Toledo International stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $1,455.52, for a total value of $2,758,210.40. Following the transaction, the chief financial officer owned 5,288 shares of the company’s stock, valued at $7,696,789.76. The trade was a 26.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,565 shares of company stock worth $28,683,737. Corporate insiders own 0.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on MTD. Evercore ISI increased their target price on Mettler-Toledo International from $1,275.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Barclays reduced 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 report on Monday, December 15th. The Goldman Sachs Group initiated coverage on Mettler-Toledo International in a research report on Tuesday, December 9th. They issued a “neutral” rating and a $1,475.00 target price on the stock. Wells Fargo & Company upped their price target on Mettler-Toledo International from $1,400.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mettler-Toledo International from $1,200.00 to $1,285.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1,441.67.
Get Our Latest Stock Analysis on Mettler-Toledo International
Mettler-Toledo International Company Profile
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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