Parallel Advisors LLC Increases Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Parallel Advisors LLC raised its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 12.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192 shares of the medical instruments supplier’s stock after purchasing an additional 22 shares during the quarter. Parallel Advisors LLC’s holdings in Mettler-Toledo International were worth $268,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Mettler-Toledo International during the first quarter valued at approximately $25,000. Family Firm Inc. bought a new stake in shares of Mettler-Toledo International in the 2nd quarter worth $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Mettler-Toledo International in the fourth quarter worth $27,000. Bellevue Group AG bought a new position in shares of Mettler-Toledo International during the fourth quarter valued at $30,000. Finally, Mather Group LLC. purchased a new stake in shares of Mettler-Toledo International during the first quarter valued at $32,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Price Performance

NYSE:MTD opened at $1,402.69 on Thursday. Mettler-Toledo International Inc. has a one year low of $928.49 and a one year high of $1,546.93. The business has a fifty day moving average price of $1,406.00 and a 200-day moving average price of $1,373.84. The firm has a market capitalization of $29.96 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. During the same quarter in the prior year, the business posted $10.19 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at $1,044,459.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Shawn Vadala sold 250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MTD shares. The Goldman Sachs Group boosted their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Jefferies Financial Group reiterated an “underperform” rating and set a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Finally, Stifel Nicolaus raised their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average target price of $1,356.25.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.