Resona Asset Management Co. Ltd. Purchases New Shares in Mettler-Toledo International Inc. (NYSE:MTD)

Resona Asset Management Co. Ltd. bought a new position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,506 shares of the medical instruments supplier's stock, valued at approximately $7,971,000.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Mettler-Toledo International by 14.3% in the fourth quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock valued at $78,000 after acquiring an additional 8 shares in the last quarter. M3 Advisory Group LLC increased its position in Mettler-Toledo International by 5.8% during the 4th quarter. M3 Advisory Group LLC now owns 165 shares of the medical instruments supplier's stock valued at $202,000 after purchasing an additional 9 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Mettler-Toledo International by 2.5% in the 4th quarter. Apollon Wealth Management LLC now owns 368 shares of the medical instruments supplier's stock valued at $451,000 after purchasing an additional 9 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Mettler-Toledo International by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 306 shares of the medical instruments supplier's stock worth $374,000 after purchasing an additional 9 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of Mettler-Toledo International by 0.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 2,083 shares of the medical instruments supplier's stock valued at $2,549,000 after purchasing an additional 10 shares in the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

MTD has been the topic of several analyst reports. Evercore ISI lifted their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Robert W. Baird boosted their target price on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued 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 an average target price of $1,380.50.

Insiders Place Their Bets

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the sale, the insider now owns 734 shares in the company, valued at approximately $964,248.46. This represents a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gerry Keller sold 600 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the transaction, the insider now directly owns 6 shares of the company's stock, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Mettler-Toledo International Stock Up 4.4 %

Shares of NYSE:MTD traded up $43.57 during trading on Friday, hitting $1,041.26. The stock had a trading volume of 324,135 shares, compared to its average volume of 138,891. The stock has a 50-day simple moving average of $1,217.84 and a two-hundred day simple moving average of $1,274.32. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 3.30 and a beta of 1.28. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 EPS for the quarter, beating the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. As a group, sell-side analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

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.