Maverick Capital Ltd. Purchases New Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Maverick Capital Ltd. acquired a new stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,822 shares of the medical instruments supplier’s stock, valued at approximately $4,020,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTD. Victory Capital Management Inc. lifted its holdings in Mettler-Toledo International by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 13,896 shares of the medical instruments supplier’s stock valued at $11,023,000 after purchasing an additional 93 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Mettler-Toledo International during the fourth quarter valued at about $222,000. Aviva PLC lifted its holdings in shares of Mettler-Toledo International by 29.9% in the fourth quarter. Aviva PLC now owns 11,184 shares of the medical instruments supplier’s stock worth $8,872,000 after buying an additional 2,575 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Mettler-Toledo International in the fourth quarter worth about $286,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Mettler-Toledo International by 5.8% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,102 shares of the medical instruments supplier’s stock worth $7,220,000 after buying an additional 500 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Christian Magloth sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $702.96, for a total value of $527,220.00. Following the transaction, the insider now owns 901 shares in the company, valued at $633,366.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Spoerry sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $700.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director now owns 9,148 shares in the company, valued at approximately $6,403,600. The disclosure for this sale can be found here. Insiders sold 13,547 shares of company stock worth $9,694,046 in the last 90 days. Company insiders own 3.20% of the company’s stock.

MTD has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Mettler-Toledo International from $755.00 to $770.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Citigroup upped their price objective on shares of Mettler-Toledo International from $725.00 to $740.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Cfra upped their price objective on shares of Mettler-Toledo International from $705.00 to $741.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Wolfe Research cut shares of Mettler-Toledo International from a “market perform” rating to an “underperform” rating and set a $586.00 price objective on the stock. in a research report on Thursday, April 2nd. Finally, Barclays upgraded shares of Mettler-Toledo International from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $720.00 to $680.00 in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $722.20.

NYSE MTD traded down $10.86 on Wednesday, reaching $787.14. 743 shares of the company’s stock traded hands, compared to its average volume of 162,420. Mettler-Toledo International Inc. has a 12 month low of $579.40 and a 12 month high of $873.51. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.77 and a quick ratio of 1.34. The stock has a 50-day simple moving average of $764.82 and a 200 day simple moving average of $749.30. The stock has a market cap of $18.72 billion, a PE ratio of 35.38, a P/E/G ratio of 6.17 and a beta of 1.06.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $4.00 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.11. Mettler-Toledo International had a net margin of 18.38% and a return on equity of 134.62%. The business had revenue of $649.20 million for the quarter, compared to analysts’ expectations of $651.78 million. During the same period last year, the business earned $4.10 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts anticipate that Mettler-Toledo International Inc. will post 20.97 EPS for the current year.

Mettler-Toledo International Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.

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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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