Congress Asset Management Co. Grows Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Congress Asset Management Co. grew its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 1.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 667 shares of the medical instruments supplier’s stock after acquiring an additional 12 shares during the quarter. Congress Asset Management Co.’s holdings in Mettler-Toledo International were worth $788,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Mettler-Toledo International by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after acquiring an additional 28,478 shares during the period. Allworth Financial LP grew its position in shares of Mettler-Toledo International by 367.4% during the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier’s stock worth $285,000 after acquiring an additional 169 shares during the last quarter. Royal Bank of Canada grew its position in shares of Mettler-Toledo International by 7.3% during the fourth quarter. Royal Bank of Canada now owns 45,756 shares of the medical instruments supplier’s stock worth $55,990,000 after acquiring an additional 3,105 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Mettler-Toledo International by 5.8% during the fourth quarter. Impax Asset Management Group plc now owns 198,852 shares of the medical instruments supplier’s stock worth $243,331,000 after acquiring an additional 10,830 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Mettler-Toledo International by 31.3% during the fourth quarter. Renaissance Technologies LLC now owns 12,600 shares of the medical instruments supplier’s stock worth $15,418,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

MTD opened at $1,183.88 on Monday. The business has a 50 day simple moving average of $1,092.37 and a 200-day simple moving average of $1,205.15. The stock has a market capitalization of $24.60 billion, a P/E ratio of 29.21, a P/E/G ratio of 3.30 and a beta of 1.38. Mettler-Toledo International Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MTD shares. Citigroup upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a research report on Monday, April 7th. Wells Fargo & Company raised their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Evercore ISI increased their price objective on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Robert W. Baird decreased their price objective on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International has an average rating of “Hold” and a consensus price target of $1,302.11.

Insider Activity

In other news, Director Michael A. Kelly sold 1,062 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the sale, the director now directly owns 120 shares of the company’s stock, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.94% of the company’s stock.

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.