Mettler-Toledo International Inc. (NYSE:MTD) Shares Acquired by Canoe Financial LP

Canoe Financial LP boosted its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 576.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,518 shares of the medical instruments supplier’s stock after acquiring an additional 47,311 shares during the period. Canoe Financial LP owned 0.26% of Mettler-Toledo International worth $67,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Mettler-Toledo International by 478.6% during the 2nd quarter. Renaissance Technologies LLC now owns 12,730 shares of the medical instruments supplier’s stock worth $17,791,000 after purchasing an additional 10,530 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Mettler-Toledo International by 8.0% during the 2nd quarter. Axxcess Wealth Management LLC now owns 794 shares of the medical instruments supplier’s stock valued at $1,110,000 after buying an additional 59 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Mettler-Toledo International by 27.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,498 shares of the medical instruments supplier’s stock worth $3,491,000 after buying an additional 534 shares in the last quarter. Seven Eight Capital LP raised its holdings in shares of Mettler-Toledo International by 27.6% in the second quarter. Seven Eight Capital LP now owns 434 shares of the medical instruments supplier’s stock worth $607,000 after acquiring an additional 94 shares during the last quarter. Finally, GM Advisory Group LLC purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at $214,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Down 0.1 %

Shares of NYSE MTD opened at $1,295.77 on Friday. The stock has a market capitalization of $27.34 billion, a PE ratio of 34.94, a P/E/G ratio of 3.83 and a beta of 1.12. The firm has a fifty day moving average of $1,241.52 and a 200-day moving average of $1,344.14. Mettler-Toledo International Inc. has a 52-week low of $1,133.46 and a 52-week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, topping the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million during the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. Equities research analysts expect that Mettler-Toledo International Inc. will post 40.42 EPS for the current fiscal year.

Insider Activity at Mettler-Toledo International

In other news, Director Elisha W. Finney sold 76 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the sale, the director now owns 240 shares in the company, valued at approximately $314,820. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerry Keller sold 140 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total value of $175,572.60. Following the sale, the insider now owns 6 shares in the company, valued at approximately $7,524.54. The trade was a 95.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MTD. Stifel Nicolaus cut their target price on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wolfe Research initiated coverage on shares of Mettler-Toledo International in a research report on Friday, December 13th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their target price on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Robert W. Baird cut their price target on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Evercore ISI upgraded Mettler-Toledo International from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $1,375.00 to $1,450.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1,351.25.

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.