Eventide Asset Management LLC Has $118.67 Million Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Eventide Asset Management LLC raised its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,129 shares of the medical instruments supplier’s stock after purchasing an additional 5,504 shares during the period. Mettler-Toledo International accounts for approximately 2.0% of Eventide Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Eventide Asset Management LLC owned about 0.38% of Mettler-Toledo International worth $118,670,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Mettler-Toledo International in the 2nd quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in Mettler-Toledo International by 242.9% in the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 17 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Mettler-Toledo International during the third quarter worth $37,000. Rothschild Investment LLC purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at $42,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Mettler-Toledo International in the 2nd quarter worth $42,000. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Price Performance

MTD stock opened at $1,243.40 on Friday. The company has a market capitalization of $26.24 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 4.10 and a beta of 1.16. Mettler-Toledo International Inc. has a 12 month low of $1,059.08 and a 12 month high of $1,546.93. The firm’s fifty day simple moving average is $1,348.27 and its 200-day simple moving average is $1,395.43.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, beating the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million for the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. As a group, sell-side analysts forecast that Mettler-Toledo International Inc. will post 40.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Elisha W. Finney sold 76 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the sale, the director now directly owns 240 shares of the company’s stock, valued at approximately $314,820. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MTD shares. Stifel Nicolaus reduced their target price 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. Evercore ISI increased their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Robert W. Baird decreased their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Mettler-Toledo International currently has an average rating of “Hold” and an average target price of $1,338.75.

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.