Meridiem Capital Partners LP Makes New Investment in Mettler-Toledo International Inc. (NYSE:MTD)

Meridiem Capital Partners LP bought a new position in Mettler-Toledo International Inc. (NYSE:MTD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,107 shares of the medical instruments supplier’s stock, valued at approximately $29,499,000. Mettler-Toledo International accounts for about 2.6% of Meridiem Capital Partners LP’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in MTD. Norges Bank acquired a new stake in Mettler-Toledo International in the fourth quarter worth approximately $372,954,000. Proficio Capital Partners LLC acquired a new stake in shares of Mettler-Toledo International during the 4th quarter valued at $163,216,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Mettler-Toledo International by 36.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock valued at $444,327,000 after acquiring an additional 96,300 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Mettler-Toledo International by 53.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier’s stock valued at $262,211,000 after acquiring an additional 74,187 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Mettler-Toledo International during the 4th quarter valued at $89,221,000. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Trading Up 8.7%

NYSE MTD opened at $1,175.33 on Tuesday. Mettler-Toledo International Inc. has a 1-year low of $946.69 and a 1-year high of $1,546.93. The company has a market capitalization of $24.43 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.30 and a beta of 1.40. The firm’s fifty day simple moving average is $1,116.98 and its 200-day simple moving average is $1,221.64.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, topping the consensus estimate of $7.90 by $0.29. The firm had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.89 earnings per share. As a group, analysts predict that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at $964,248.46. This represents a 51.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Robert W. Baird reduced their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded Mettler-Toledo International from an “underperform” rating to a “hold” rating and reduced their target price for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Evercore ISI increased their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Finally, StockNews.com lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Mettler-Toledo International currently has a consensus rating of “Hold” and an average target price of $1,296.13.

Mettler-Toledo International Company Profile

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.