Magnetar Financial LLC Acquires Shares of 1,322 Mettler-Toledo International Inc. (NYSE:MTD)

Magnetar Financial LLC acquired a new stake in Mettler-Toledo International Inc. (NYSE:MTD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,322 shares of the medical instruments supplier’s stock, valued at approximately $1,848,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MTD. Assetmark Inc. grew its position in shares of Mettler-Toledo International by 21.0% in the fourth quarter. Assetmark Inc. now owns 282 shares of the medical instruments supplier’s stock valued at $342,000 after purchasing an additional 49 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in Mettler-Toledo International by 32.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 676 shares of the medical instruments supplier’s stock worth $789,000 after buying an additional 166 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Mettler-Toledo International by 2.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 7,981 shares of the medical instruments supplier’s stock worth $9,681,000 after buying an additional 215 shares during the last quarter. Hsbc Holdings PLC increased its stake in Mettler-Toledo International by 66.4% during the 4th quarter. Hsbc Holdings PLC now owns 71,253 shares of the medical instruments supplier’s stock worth $86,656,000 after buying an additional 28,426 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in shares of Mettler-Toledo International during the fourth quarter valued at approximately $38,991,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Insider Buying and Selling at Mettler-Toledo International

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

Mettler-Toledo International Price Performance

Shares of NYSE MTD opened at $1,405.90 on Tuesday. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14. The stock’s 50-day moving average is $1,409.58 and its two-hundred day moving average is $1,376.57. Mettler-Toledo International Inc. has a 1-year low of $928.49 and a 1-year high of $1,546.93.

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

Wall Street Analyst Weigh In

Several analysts recently commented on MTD shares. The Goldman Sachs Group boosted their price target 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. JPMorgan Chase & Co. upped 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. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus upped their price objective on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,356.25.

About Mettler-Toledo International

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.