Pictet Asset Management Ltd. Boosts Position in Mettler-Toledo International, Inc. (MTD)

Pictet Asset Management Ltd. increased its position in Mettler-Toledo International, Inc. (NYSE:MTD) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,332 shares of the medical instruments supplier’s stock after buying an additional 6,934 shares during the period. Pictet Asset Management Ltd. owned 0.43% of Mettler-Toledo International worth $64,885,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in shares of Mettler-Toledo International by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 37,697 shares of the medical instruments supplier’s stock worth $15,778,000 after buying an additional 2,672 shares in the last quarter. Morgan Stanley raised its stake in Mettler-Toledo International by 37.8% in the first quarter. Morgan Stanley now owns 269,128 shares of the medical instruments supplier’s stock worth $128,890,000 after buying an additional 73,762 shares during the last quarter. Creative Planning raised its stake in Mettler-Toledo International by 7.4% in the first quarter. Creative Planning now owns 1,151 shares of the medical instruments supplier’s stock worth $551,000 after buying an additional 79 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Mettler-Toledo International by 54.6% in the first quarter. Toronto Dominion Bank now owns 7,000 shares of the medical instruments supplier’s stock valued at $3,352,000 after buying an additional 2,472 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Mettler-Toledo International by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 8,168 shares of the medical instruments supplier’s stock valued at $3,911,000 after buying an additional 110 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Shares of Mettler-Toledo International, Inc. (NYSE:MTD) traded up 0.29% during mid-day trading on Friday, reaching $575.52. 68,821 shares of the company traded hands. The stock’s 50 day moving average is $589.54 and its 200 day moving average is $533.66. The stock has a market capitalization of $14.77 billion, a PE ratio of 35.39 and a beta of 1.13. Mettler-Toledo International, Inc. has a 52-week low of $386.01 and a 52-week high of $618.13.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.03. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The firm had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. During the same quarter in the prior year, the firm earned $3.22 EPS. The company’s revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International, Inc. will post $16.89 earnings per share for the current year.

Several research analysts have recently commented on the stock. BidaskClub raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $665.00 price target for the company in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $550.00 price target on shares of Mettler-Toledo International in a report on Thursday, July 27th. Finally, Wells Fargo & Company raised shares of Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $569.80.

In other Mettler-Toledo International news, insider Thomas Caratsch sold 150 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $578.00, for a total transaction of $86,700.00. Following the sale, the insider now owns 920 shares of the company’s stock, valued at approximately $531,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Waldemar Rauch sold 1,100 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $595.91, for a total transaction of $655,501.00. Following the sale, the insider now directly owns 3,065 shares in the company, valued at approximately $1,826,464.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,786 shares of company stock worth $11,418,119. Insiders own 5.20% of the company’s stock.

About Mettler-Toledo International

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.