Tekla Capital Management LLC Takes $2.13 Million Position in Mettler-Toledo International Inc. (MTD)
Tekla Capital Management LLC acquired a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 3,500 shares of the medical instruments supplier’s stock, valued at approximately $2,131,000.
A number of other large investors have also recently bought and sold shares of MTD. Captrust Financial Advisors lifted its holdings in Mettler-Toledo International by 306.7% in the second quarter. Captrust Financial Advisors now owns 183 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 138 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new position in Mettler-Toledo International in the second quarter valued at approximately $110,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Mettler-Toledo International by 143.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180 shares of the medical instruments supplier’s stock valued at $110,000 after acquiring an additional 106 shares during the last quarter. IFP Advisors Inc lifted its holdings in Mettler-Toledo International by 603.7% in the third quarter. IFP Advisors Inc now owns 190 shares of the medical instruments supplier’s stock valued at $116,000 after acquiring an additional 163 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Mettler-Toledo International in the second quarter valued at approximately $167,000. Institutional investors own 93.80% of the company’s stock.
MTD has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Mettler-Toledo International from $529.00 to $572.00 and gave the company an “equal weight” rating in a report on Wednesday, October 10th. UBS Group initiated coverage on Mettler-Toledo International in a report on Tuesday, October 9th. They issued a “neutral” rating and a $625.00 price objective on the stock. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $621.00 price objective on the stock in a report on Friday, October 12th. Finally, ValuEngine upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Mettler-Toledo International currently has an average rating of “Hold” and an average target price of $624.00.
Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 8th. The medical instruments supplier reported $5.12 EPS for the quarter, topping analysts’ consensus estimates of $4.99 by $0.13. Mettler-Toledo International had a return on equity of 93.15% and a net margin of 14.10%. The company had revenue of $734.85 million for the quarter, compared to analysts’ expectations of $738.23 million. During the same period in the prior year, the firm earned $4.36 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Mettler-Toledo International Inc. will post 20.23 EPS for the current fiscal year.
In other news, Director Hans Ulrich Maerki sold 3,384 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $605.00, for a total value of $2,047,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William P. Donnelly sold 3,816 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $606.44, for a total value of $2,314,175.04. The disclosure for this sale can be found here. Insiders have sold 26,199 shares of company stock worth $15,733,870 over the last 90 days. 4.80% of the stock is owned by insiders.
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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; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.
Further Reading: Asset Allocation, Balancing Your Investments
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