abrdn plc Buys 5,632 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

abrdn plc raised its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,291 shares of the medical instruments supplier’s stock after acquiring an additional 5,632 shares during the quarter. abrdn plc’s holdings in Mettler-Toledo International were worth $40,381,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS increased its stake in shares of Mettler-Toledo International by 59.3% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 2,552 shares of the medical instruments supplier’s stock valued at $3,095,000 after buying an additional 950 shares in the last quarter. Greenleaf Trust increased its stake in shares of Mettler-Toledo International by 15.1% in the fourth quarter. Greenleaf Trust now owns 838 shares of the medical instruments supplier’s stock valued at $1,016,000 after buying an additional 110 shares in the last quarter. Lafayette Investments Inc. increased its stake in shares of Mettler-Toledo International by 19.7% in the fourth quarter. Lafayette Investments Inc. now owns 687 shares of the medical instruments supplier’s stock valued at $833,000 after buying an additional 113 shares in the last quarter. AIA Group Ltd increased its stake in shares of Mettler-Toledo International by 29.0% in the fourth quarter. AIA Group Ltd now owns 1,108 shares of the medical instruments supplier’s stock valued at $1,344,000 after buying an additional 249 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Mettler-Toledo International by 3.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,963 shares of the medical instruments supplier’s stock valued at $2,381,000 after buying an additional 64 shares in the last quarter. 95.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Evercore ISI lifted their price objective on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,233.25.

Mettler-Toledo International Trading Up 0.9 %

Mettler-Toledo International stock opened at $1,199.46 on Tuesday. The firm has a market capitalization of $25.66 billion, a P/E ratio of 33.42, a PEG ratio of 3.25 and a beta of 1.15. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,574.26. The business has a 50-day moving average of $1,269.81 and a 200-day moving average of $1,172.97.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Friday, February 9th. The medical instruments supplier reported $9.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.32 by ($0.92). The company had revenue of $934.90 million for the quarter, compared to analyst estimates of $959.45 million. Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. Mettler-Toledo International’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $12.10 earnings per share. Research analysts anticipate that Mettler-Toledo International Inc. will post 39.9 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian Magloth sold 400 shares of Mettler-Toledo International stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total transaction of $511,492.00. Following the transaction, the insider now owns 734 shares in the company, valued at approximately $938,587.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Elisha W. Finney sold 251 shares of Mettler-Toledo International stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $1,177.35, for a total transaction of $295,514.85. Following the transaction, the director now owns 316 shares in the company, valued at approximately $372,042.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian Magloth sold 400 shares of Mettler-Toledo International stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the transaction, the insider now owns 734 shares in the company, valued at approximately $938,587.82. The disclosure for this sale can be found here. Insiders have sold 951 shares of company stock worth $1,170,256 in the last 90 days. Corporate insiders own 1.94% of the company’s stock.

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.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.