Raymond James Financial Inc. Takes Position in Mettler-Toledo International Inc. (NYSE:MTD)

Raymond James Financial Inc. acquired a new stake in Mettler-Toledo International Inc. (NYSE:MTD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,473 shares of the medical instruments supplier’s stock, valued at approximately $9,145,000.

Several other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Mettler-Toledo International by 1.0% in the third quarter. State Street Corp now owns 954,653 shares of the medical instruments supplier’s stock valued at $1,431,693,000 after buying an additional 9,009 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Mettler-Toledo International by 0.8% during the third quarter. Geode Capital Management LLC now owns 547,439 shares of the medical instruments supplier’s stock valued at $818,906,000 after purchasing an additional 4,166 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Mettler-Toledo International by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 274,563 shares of the medical instruments supplier’s stock valued at $335,977,000 after purchasing an additional 33,456 shares during the last quarter. Barclays PLC lifted its holdings in shares of Mettler-Toledo International by 8.3% during the third quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier’s stock valued at $384,822,000 after purchasing an additional 19,609 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after purchasing an additional 28,478 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD opened at $1,198.09 on Friday. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 3.30 and a beta of 1.15. The business’s 50-day simple moving average is $1,292.72 and its 200-day simple moving average is $1,310.84. Mettler-Toledo International Inc. has a 52 week low of $1,142.91 and a 52 week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. As a group, equities research analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Activity

In other Mettler-Toledo International news, insider Gerry Keller sold 600 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total value of $810,804.00. Following the completion of the sale, the insider now owns 6 shares in the company, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian Magloth sold 790 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now owns 734 shares of the company’s stock, valued at $964,248.46. This represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MTD has been the subject of several analyst reports. Citigroup reduced their target price on Mettler-Toledo International from $1,450.00 to $1,400.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company upped their price target on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Evercore ISI upped their price target on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Robert W. Baird upped their price target on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Wolfe Research began coverage on Mettler-Toledo International in a research report on Friday, December 13th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Mettler-Toledo International presently has an average rating of “Hold” and an average price target of $1,380.50.

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.