State of Alaska Department of Revenue Has $2.89 Million Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

State of Alaska Department of Revenue raised its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,449 shares of the medical instruments supplier’s stock after purchasing an additional 40 shares during the period. State of Alaska Department of Revenue’s holdings in Mettler-Toledo International were worth $2,892,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MTD. GAMMA Investing LLC boosted its stake in Mettler-Toledo International by 131,246.3% during the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock valued at $456,018,000 after purchasing an additional 385,864 shares during the last quarter. Norges Bank acquired a new position in Mettler-Toledo International during the 4th quarter valued at about $372,954,000. Proficio Capital Partners LLC acquired a new position in Mettler-Toledo International during the 4th quarter valued at about $163,216,000. T. Rowe Price Investment Management Inc. boosted its stake in 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 purchasing an additional 96,300 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 purchasing an additional 74,187 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Trading Up 0.8%

NYSE:MTD opened at $1,154.80 on Friday. The stock has a market capitalization of $24.00 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.38. The firm’s 50 day moving average is $1,118.58 and its 200 day moving average is $1,200.54. 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 issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The business had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same quarter in the previous year, the firm posted $8.89 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Research analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the sale, the director now owns 120 shares of the company’s stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

MTD has been the topic of a number of research analyst reports. Citigroup upgraded 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 note on Monday, April 7th. Wells Fargo & Company boosted their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. UBS Group upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Robert W. Baird cut their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded Mettler-Toledo International from an “underperform” rating to a “hold” rating and cut their target price for the stock from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and an average price target of $1,302.11.

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.