Renaissance Technologies LLC Purchases 10,530 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Renaissance Technologies LLC raised its position in Mettler-Toledo International Inc. (NYSE:MTD) by 478.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,730 shares of the medical instruments supplier’s stock after acquiring an additional 10,530 shares during the period. Renaissance Technologies LLC owned about 0.06% of Mettler-Toledo International worth $17,791,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Mettler-Toledo International in the first quarter worth $25,000. Family Firm Inc. acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $25,000. Spartan Planning & Wealth Management acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth about $27,000. Bellevue Group AG acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at about $30,000. Finally, Mather Group LLC. bought a new stake in Mettler-Toledo International during the first quarter worth about $32,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

Shares of MTD opened at $1,406.11 on Friday. The firm has a market capitalization of $30.03 billion, a PE ratio of 39.43, a PEG ratio of 3.70 and a beta of 1.14. The company’s 50-day moving average is $1,408.63 and its 200-day moving average is $1,375.76. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93.

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

Insider Buying and Selling

In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christian Magloth sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now owns 734 shares of the company’s stock, valued at $1,044,459.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction on Wednesday, August 7th. The shares were 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 directly owns 4,914 shares of the company’s stock, valued at $6,884,514. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTD. Wells Fargo & Company began coverage on Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price target for the company. JPMorgan Chase & Co. boosted 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. Evercore ISI lifted their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus upped their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Mettler-Toledo International currently has a consensus rating of “Hold” and an average price target of $1,356.25.

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.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.