Mettler-Toledo International Inc. (NYSE:MTD) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 1,573.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,311 shares of the medical instruments supplier’s stock after acquiring an additional 31,320 shares during the quarter. Panagora Asset Management Inc. owned about 0.14% of Mettler-Toledo International worth $45,881,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in shares of Mettler-Toledo International by 13.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 51,300 shares of the medical instruments supplier’s stock worth $70,658,000 after purchasing an additional 6,059 shares during the period. IndexIQ Advisors LLC grew its holdings in shares of Mettler-Toledo International by 4.7% during the 3rd quarter. IndexIQ Advisors LLC now owns 398 shares of the medical instruments supplier’s stock worth $548,000 after purchasing an additional 18 shares during the period. KBC Group NV grew its holdings in shares of Mettler-Toledo International by 82.2% during the 3rd quarter. KBC Group NV now owns 32,163 shares of the medical instruments supplier’s stock worth $44,300,000 after purchasing an additional 14,506 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Mettler-Toledo International by 39.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 737 shares of the medical instruments supplier’s stock worth $1,015,000 after purchasing an additional 207 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Mettler-Toledo International by 8.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,629 shares of the medical instruments supplier’s stock worth $2,247,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.

NYSE MTD opened at $1,512.76 on Friday. The business has a 50 day moving average price of $1,569.95 and a two-hundred day moving average price of $1,512.15. Mettler-Toledo International Inc. has a fifty-two week low of $1,033.40 and a fifty-two week high of $1,714.75. The stock has a market cap of $34.78 billion, a PE ratio of 47.41, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 10.30.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 4th. The medical instruments supplier reported $8.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.28 by $0.44. Mettler-Toledo International had a return on equity of 369.24% and a net margin of 20.85%. The company had revenue of $951.95 million for the quarter, compared to analyst estimates of $931.63 million. During the same period in the prior year, the company posted $7.02 EPS. Mettler-Toledo International’s quarterly revenue was up 17.9% on a year-over-year basis. Sell-side analysts anticipate that Mettler-Toledo International Inc. will post 33.42 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $1,552.00 price target for the company in a report on Tuesday, September 28th. Robert W. Baird upped their price target on Mettler-Toledo International from $1,455.00 to $1,531.00 and gave the stock a “neutral” rating in a report on Monday, November 8th. They noted that the move was a valuation call.

In other Mettler-Toledo International news, Director Olivier A. Filliol sold 8,930 shares of the company’s stock in a transaction that occurred on Monday, November 29th. The stock was sold at an average price of $1,536.29, for a total value of $13,719,069.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shawn Vadala sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $1,548.00, for a total value of $1,702,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,826 shares of company stock worth $38,251,715. 3.00% of the stock is currently owned by corporate insiders.

Mettler-Toledo International Company Profile

Mettler-Toledo International, Inc is a supplier of precision instruments and services. The firm manufactures weighing instruments for use in laboratory, industrial, packaging, logistics, and food retailing applications. It also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and also, metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications.

Further Reading: Trade Deficit

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

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