Korea Investment CORP Buys 4,600 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Korea Investment CORP boosted its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 49.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,939 shares of the medical instruments supplier’s stock after purchasing an additional 4,600 shares during the period. Korea Investment CORP owned about 0.07% of Mettler-Toledo International worth $17,057,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTD. Citigroup cut their target price on shares of Mettler-Toledo International from $1,450.00 to $1,400.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Robert W. Baird boosted their price objective on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Evercore ISI raised their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Wolfe Research started coverage on Mettler-Toledo International in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their price target on 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 analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International has a consensus rating of “Hold” and a consensus target price of $1,380.50.

Insider Activity at Mettler-Toledo International

In related news, insider Christian Magloth sold 790 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at $964,248.46. The trade was a 51.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gerry Keller sold 600 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total value of $810,804.00. Following the transaction, the insider now directly owns 6 shares in the company, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Mettler-Toledo International Trading Down 1.4 %

Shares of Mettler-Toledo International stock opened at $1,176.04 on Friday. The company has a market cap of $24.51 billion, a P/E ratio of 29.02, a PEG ratio of 3.30 and a beta of 1.15. The business has a 50-day moving average price of $1,283.84 and a two-hundred day moving average price of $1,303.51. Mettler-Toledo International Inc. has a 1-year low of $1,142.91 and a 1-year high of $1,546.93.

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, topping 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%. Equities research analysts forecast that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

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.