Mettler-Toledo International Inc. (NYSE:MTD) Shares Bought by abrdn plc

abrdn plc grew its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,543 shares of the medical instruments supplier’s stock after acquiring an additional 193 shares during the quarter. abrdn plc owned about 0.15% of Mettler-Toledo International worth $48,475,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Forsta AP Fonden increased its position in Mettler-Toledo International by 11.9% during the third quarter. Forsta AP Fonden now owns 4,700 shares of the medical instruments supplier’s stock worth $7,049,000 after purchasing an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mettler-Toledo International by 24.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,692 shares of the medical instruments supplier’s stock valued at $2,502,000 after buying an additional 336 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Mettler-Toledo International by 137.7% during the 3rd quarter. Mediolanum International Funds Ltd now owns 3,611 shares of the medical instruments supplier’s stock worth $5,332,000 after buying an additional 2,092 shares during the last quarter. Values First Advisors Inc. increased its holdings in shares of Mettler-Toledo International by 5.9% during the 3rd quarter. Values First Advisors Inc. now owns 824 shares of the medical instruments supplier’s stock worth $1,235,000 after buying an additional 46 shares during the last quarter. Finally, DT Investment Partners LLC raised its position in shares of Mettler-Toledo International by 13.3% during the 3rd quarter. DT Investment Partners LLC now owns 68 shares of the medical instruments supplier’s stock valued at $102,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,302.12 on Thursday. The company’s 50-day simple moving average is $1,407.95 and its 200-day simple moving average is $1,394.29. Mettler-Toledo International Inc. has a 1 year low of $953.28 and a 1 year high of $1,546.93. The stock has a market capitalization of $27.63 billion, a PE ratio of 35.83, a P/E/G ratio of 3.78 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $946.75 million for the quarter, compared to analyst estimates of $929.13 million. During the same period in the prior year, the business earned $10.19 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that Mettler-Toledo International Inc. will post 40.34 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In other news, insider Christian Magloth sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Shawn Vadala sold 250 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christian Magloth sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company initiated coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective for the company. Stifel Nicolaus boosted 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 report on Monday, August 5th. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Evercore ISI boosted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Two equities 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, the stock currently has an average rating of “Hold” and an average target price of $1,363.75.

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.