NEOS Investment Management LLC Acquires 412 Shares of Mettler-Toledo International, Inc. $MTD

NEOS Investment Management LLC lifted its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 14.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,172 shares of the medical instruments supplier’s stock after buying an additional 412 shares during the period. NEOS Investment Management LLC’s holdings in Mettler-Toledo International were worth $4,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. XXEC Inc. bought a new stake in shares of Mettler-Toledo International in the second quarter valued at about $77,044,000. BlackRock Inc. bought a new position in Mettler-Toledo International during the second quarter valued at about $2,404,713,000. Bank of New York Mellon Corp acquired a new position in Mettler-Toledo International in the 2nd quarter valued at approximately $762,553,000. Wellington Management Group LLP lifted its position in shares of Mettler-Toledo International by 908.6% in the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock worth $586,459,000 after acquiring an additional 413,547 shares during the period. Finally, Norges Bank bought a new stake in shares of Mettler-Toledo International in the 4th quarter worth approximately $520,989,000. Institutional investors own 95.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTD. Royal Bank Of Canada began coverage on Mettler-Toledo International in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 target price for the company. Rothschild & Co Redburn initiated coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 2nd. They issued a “sell” rating and a $1,200.00 price objective for the company. Wolfe Research initiated coverage on shares of Mettler-Toledo International in a report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Wells Fargo & Company lifted their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley increased their price target on shares of Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1,445.31.

Insiders Place Their Bets

In related news, CEO Patrick Kaltenbach sold 942 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the sale, the chief executive officer directly owned 4,480 shares in the company, valued at $6,384,000. This represents a 17.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Vadala sold 2,240 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the completion of the sale, the chief financial officer directly owned 5,579 shares of the company’s stock, valued at approximately $7,989,128. This represents a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,254 shares of company stock valued at $6,092,712 over the last quarter. 0.71% of the stock is owned by insiders.

Mettler-Toledo International Stock Performance

Shares of NYSE:MTD opened at $1,344.87 on Monday. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The business’s fifty day moving average price is $1,361.63 and its two-hundred day moving average price is $1,274.11. Mettler-Toledo International, Inc. has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,525.17. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $10.09 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.