Tidal Investments LLC Buys 15,009 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Tidal Investments LLC lifted its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 1,073.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,407 shares of the medical instruments supplier’s stock after acquiring an additional 15,009 shares during the quarter. Tidal Investments LLC’s holdings in Mettler-Toledo International were worth $24,606,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MTD. UMB Bank n.a. boosted its stake in Mettler-Toledo International by 6.6% in the 2nd quarter. UMB Bank n.a. now owns 113 shares of the medical instruments supplier’s stock worth $158,000 after purchasing an additional 7 shares during the period. DT Investment Partners LLC boosted its position in shares of Mettler-Toledo International by 13.3% during the 3rd quarter. DT Investment Partners LLC now owns 68 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 8 shares during the last quarter. Suncoast Equity Management boosted its position in shares of Mettler-Toledo International by 2.0% during the 3rd quarter. Suncoast Equity Management now owns 460 shares of the medical instruments supplier’s stock valued at $690,000 after acquiring an additional 9 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Mettler-Toledo International by 1.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 757 shares of the medical instruments supplier’s stock valued at $1,135,000 after acquiring an additional 9 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Mettler-Toledo International by 20.0% during the 3rd quarter. Huntington National Bank now owns 54 shares of the medical instruments supplier’s stock valued at $81,000 after acquiring an additional 9 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTD has been the topic of several recent research reports. Robert W. Baird decreased their price target on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company decreased their price target on 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. Stifel Nicolaus decreased their price target on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Evercore ISI increased 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. Finally, Citigroup upgraded Mettler-Toledo International from a “sell” rating to a “neutral” rating and increased their price target for the company from $1,200.00 to $1,300.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Mettler-Toledo International has an average rating of “Hold” and an average price target of $1,351.25.

Mettler-Toledo International Stock Performance

MTD stock traded up $0.47 during trading on Thursday, reaching $1,271.10. 9,426 shares of the company traded hands, compared to its average volume of 135,263. Mettler-Toledo International Inc. has a 12 month low of $1,115.44 and a 12 month high of $1,546.93. The business has a 50 day simple moving average of $1,317.66 and a 200 day simple moving average of $1,380.29. The company has a market capitalization of $26.82 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 4.15 and a beta of 1.13.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.21. The firm had revenue of $954.54 million during the quarter, compared to analysts’ expectations of $941.93 million. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. As a group, research analysts forecast that Mettler-Toledo International Inc. will post 40.42 EPS for the current year.

Insider Activity at Mettler-Toledo International

In other news, Director Elisha W. Finney sold 76 shares of Mettler-Toledo International stock in a transaction that occurred 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 sale, the director now directly owns 240 shares of the company’s stock, valued at $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gerry Keller sold 140 shares of Mettler-Toledo International stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1,254.09, for a total value of $175,572.60. Following the completion of the sale, the insider now directly owns 6 shares in the company, valued at $7,524.54. This represents a 95.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Mettler-Toledo International 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.