Palisade Capital Management LP Buys New Position in Mettler-Toledo International, Inc. $MTD

Palisade Capital Management LP bought a new stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,620 shares of the medical instruments supplier’s stock, valued at approximately $13,567,000. Palisade Capital Management LP owned 0.05% of Mettler-Toledo International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTD. Geneos Wealth Management Inc. grew its holdings in Mettler-Toledo International by 83.3% during the first quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock worth $78,000 after acquiring an additional 30 shares during the period. Baird Financial Group Inc. lifted its holdings in Mettler-Toledo International by 3.1% in the 2nd quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier’s stock valued at $1,582,000 after acquiring an additional 40 shares during the last quarter. Jump Financial LLC boosted its position in shares of Mettler-Toledo International by 44.6% during the 2nd quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier’s stock valued at $476,000 after purchasing an additional 125 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Mettler-Toledo International by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier’s stock worth $4,740,000 after purchasing an additional 392 shares during the last quarter. Finally, AXA S.A. grew its stake in shares of Mettler-Toledo International by 2.9% in the 2nd quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier’s stock worth $5,433,000 after purchasing an additional 131 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on MTD shares. Stifel Nicolaus upped their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Barclays raised their price objective on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Robert W. Baird cut their target price on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Finally, Wolfe Research initiated coverage on Mettler-Toledo International in a research report on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and an average target price of $1,461.27.

Mettler-Toledo International Trading Up 0.3%

NYSE MTD opened at $1,402.64 on Wednesday. Mettler-Toledo International, Inc. has a twelve month low of $1,023.05 and a twelve month high of $1,525.17. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.88 and a beta of 1.23. The firm’s 50 day moving average price is $1,329.55 and its two-hundred day moving average price is $1,273.83.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $10.09 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 EPS for the current year.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Gerry Keller sold 240 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the sale, the insider directly owned 259 shares in the company, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the transaction, the chief financial officer directly owned 5,579 shares in the company, valued at approximately $7,989,128. This trade represents a 28.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,312 shares of company stock valued at $4,750,362. Corporate insiders own 0.71% 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.