Perbak Capital Partners LLP lifted its position in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 108.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,352 shares of the medical instruments supplier’s stock after purchasing an additional 1,745 shares during the period. Mettler-Toledo International comprises approximately 0.7% of Perbak Capital Partners LLP’s portfolio, making the stock its 15th biggest holding. Perbak Capital Partners LLP’s holdings in Mettler-Toledo International were worth $4,115,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Mettler-Toledo International by 83.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock valued at $78,000 after buying an additional 30 shares during the last quarter. Savant Capital LLC grew its holdings in Mettler-Toledo International by 27.0% in the 2nd quarter. Savant Capital LLC now owns 471 shares of the medical instruments supplier’s stock worth $553,000 after acquiring an additional 100 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Mettler-Toledo International by 10.7% in the second quarter. Penserra Capital Management LLC now owns 114 shares of the medical instruments supplier’s stock valued at $133,000 after acquiring an additional 11 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Mettler-Toledo International by 82.7% in the second quarter. Los Angeles Capital Management LLC now owns 550 shares of the medical instruments supplier’s stock valued at $646,000 after acquiring an additional 249 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Mettler-Toledo International by 12.3% during the second quarter. Acadian Asset Management LLC now owns 2,823 shares of the medical instruments supplier’s stock valued at $3,312,000 after acquiring an additional 310 shares during the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.
Mettler-Toledo International Trading Up 0.6%
Shares of MTD stock opened at $1,174.59 on Friday. The company’s fifty day moving average price is $1,378.52 and its 200-day moving average price is $1,367.96. The stock has a market cap of $23.88 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.43. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,525.17.
Wall Street Analysts Forecast Growth
MTD has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Mettler-Toledo International in a report on Monday, December 29th. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,400.00 to $1,450.00 and gave the company an “equal weight” rating in a report on Monday, December 15th. Barclays lowered their price target on Mettler-Toledo International from $1,600.00 to $1,550.00 and set an “overweight” rating for the company in a research report on Monday, December 15th. Bank of America upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,600.00 price objective for the company in a report on Monday, December 15th. Finally, Wall Street Zen upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1,435.42.
Read Our Latest Stock Analysis on MTD
Insiders Place Their Bets
In other news, CFO Shawn Vadala sold 800 shares of Mettler-Toledo International stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1,410.12, for a total transaction of $1,128,096.00. Following the completion of the transaction, the chief financial officer directly owned 5,288 shares in the company, valued at approximately $7,456,714.56. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.94% of the company’s stock.
About Mettler-Toledo International
Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.
The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.
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