Algert Global LLC Makes New $4.81 Million Investment in Mettler-Toledo International Inc. (NYSE:MTD)

Algert Global LLC acquired a new stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,205 shares of the medical instruments supplier's stock, valued at approximately $4,807,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gateway Investment Advisers LLC bought a new position in shares of Mettler-Toledo International during the second quarter worth about $685,000. Swedbank AB bought a new position in Mettler-Toledo International during the 1st quarter worth approximately $26,867,000. SG Americas Securities LLC grew its position in shares of Mettler-Toledo International by 52.9% in the 2nd quarter. SG Americas Securities LLC now owns 4,516 shares of the medical instruments supplier's stock worth $6,312,000 after acquiring an additional 1,562 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Mettler-Toledo International by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,240 shares of the medical instruments supplier's stock valued at $1,860,000 after acquiring an additional 152 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Mettler-Toledo International by 212.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 1,308 shares of the medical instruments supplier's stock valued at $1,828,000 after acquiring an additional 889 shares in the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Elisha W. Finney sold 76 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the sale, the director now owns 240 shares of the company's stock, valued at $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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

MTD has been the subject of a number of research reports. Robert W. Baird decreased their price objective on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Evercore ISI increased their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their target price on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Finally, Stifel Nicolaus dropped their price target on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $1,338.75.

Mettler-Toledo International Stock Performance

Shares of MTD traded up $7.02 during mid-day trading on Monday, reaching $1,224.99. 257,625 shares of the company's stock traded hands, compared to its average volume of 137,182. The business's 50-day moving average price is $1,361.85 and its 200-day moving average price is $1,399.98. The stock has a market capitalization of $25.85 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 4.02 and a beta of 1.16. Mettler-Toledo International Inc. has a 12 month low of $1,059.08 and a 12 month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, beating the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. The firm had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. Equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.39 EPS for the current year.

Mettler-Toledo International 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.