Suncoast Equity Management Acquires 49 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Suncoast Equity Management boosted its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 509 shares of the medical instruments supplier’s stock after purchasing an additional 49 shares during the quarter. Suncoast Equity Management’s holdings in Mettler-Toledo International were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTD. State Street Corp grew its stake in shares of Mettler-Toledo International by 1.0% in the third quarter. State Street Corp now owns 954,653 shares of the medical instruments supplier’s stock worth $1,431,693,000 after acquiring an additional 9,009 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mettler-Toledo International by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 547,439 shares of the medical instruments supplier’s stock valued at $818,906,000 after purchasing an additional 4,166 shares during the period. Principal Financial Group Inc. grew its position in Mettler-Toledo International by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 274,563 shares of the medical instruments supplier’s stock worth $335,977,000 after purchasing an additional 33,456 shares during the last quarter. Barclays PLC increased its holdings in shares of Mettler-Toledo International by 8.3% during the 3rd quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier’s stock worth $384,822,000 after purchasing an additional 19,609 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after buying an additional 28,478 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

Shares of Mettler-Toledo International stock opened at $1,302.24 on Friday. The firm has a 50 day simple moving average of $1,284.88 and a 200 day simple moving average of $1,334.32. Mettler-Toledo International Inc. has a fifty-two week low of $1,142.91 and a fifty-two week high of $1,546.93. The firm has a market cap of $27.24 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.30 and a beta of 1.13.

Mettler-Toledo International (NYSE:MTD) last released its earnings results 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 negative return on equity of 591.54% and a net margin of 22.29%. On average, sell-side analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTD. Robert W. Baird boosted their price target on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Stifel Nicolaus lowered their price objective 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. Wolfe Research initiated coverage on Mettler-Toledo International in a research report on Friday, December 13th. They issued a “peer perform” rating for the company. Citigroup upgraded shares of Mettler-Toledo International from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $1,200.00 to $1,300.00 in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price objective on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1,368.00.

Insiders Place Their Bets

In other Mettler-Toledo International news, insider Gerry Keller sold 140 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total value of $175,572.60. Following the transaction, the insider now directly owns 6 shares of the company’s stock, valued at approximately $7,524.54. This trade represents a 95.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.94% of the company’s stock.

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.