Northwest & Ethical Investments L.P. has reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE: MTD) by 1.9% during the second quarter of 2023, according to a report from Holdings Channel.com. The firm now holds 20,263 shares, following the sale of 401 shares during the period. As of the latest filing with the Securities and Exchange Commission (SEC), these holdings are valued at approximately $23.8 million.
Several other institutional investors have also adjusted their positions in Mettler-Toledo. Notably, Advisors Asset Management Inc. increased its stake by 13.3%, acquiring an additional 157 shares to reach a total of 1,336 shares, valued at around $1.57 million. Similarly, Prudential Financial Inc. raised its holdings by 0.8%, now owning 13,914 shares worth about $16.35 million after purchasing an additional 104 shares.
Cynosure Group LLC entered the scene by acquiring a new stake valued at $1.45 million. Meanwhile, Charles Schwab Investment Management Inc. expanded its position by 6.3%, now holding 155,829 shares valued at approximately $183.1 million after adding 9,237 shares. American Century Companies Inc. also lifted its holdings by 14.0%, acquiring an additional 10,750 shares to reach a total of 87,511 shares worth around $102.8 million. Collectively, institutional investors and hedge funds currently own 95.07% of Mettler-Toledo’s stock.
Analysts Remain Cautious Yet Optimistic
A number of research firms have offered insights on Mettler-Toledo’s stock performance. On October 9, 2023, JPMorgan Chase & Co. raised its price target from $1,200.00 to $1,285.00 while maintaining a “neutral” rating. This was echoed by Robert W. Baird, which lifted its price objective from $1,210.00 to $1,230.00, also rating the stock as “neutral.” In contrast, Barclays and Stifel Nicolaus both increased their price targets to $1,600.00 and maintained “overweight” and “buy” ratings, respectively.
Overall, five analysts have assigned a “Buy” rating to Mettler-Toledo, while seven have issued a “Hold” rating. According to data from MarketBeat, the stock’s average rating stands at “Hold,” with an average price target of $1,406.50.
Insider Trading Activity
Recent insider trading activity has also drawn attention. On November 21, 2023, insider Gerry Keller sold 236 shares at an average price of $1,418.58, totaling approximately $334,784.88. This sale decreased Keller’s position by 59.75%, leaving him with 159 shares valued at about $225,554.22. Additionally, Marc De La Guerroniere sold 6,880 shares on November 11, 2023, for a total of about $9.98 million, representing a significant 97.35% reduction in his holdings. In total, insiders have sold 11,485 shares valued at around $16.67 million over the past 90 days.
Current Stock Performance
Mettler-Toledo’s stock opened at $1,506.58 on November 6, 2023, having a twelve-month low of $946.69 and a high of $1,525.17. The company boasts a market capitalization of $30.78 billion, a P/E ratio of 38.15, and a beta of 1.41. Its 50-day moving average is approximately $1,356.38, while the 200-day moving average stands at $1,268.12.
Mettler-Toledo International reported its quarterly earnings on November 6, 2023, posting an earnings per share (EPS) of $11.15, surpassing analysts’ expectations of $10.62 by $0.53. The company generated $1.03 billion in revenue, exceeding estimates of $997.36 million. Compared to the same period last year, revenue increased by 7.9%.
The company has projected its Q4 2025 EPS guidance to be between $12.680 and $12.880 and its FY 2025 guidance at $42.050 to $42.250. Analysts expect Mettler-Toledo to post an EPS of $42.71 for the current fiscal year.
Mettler-Toledo International Inc. specializes in manufacturing and supplying precision instruments and services globally, operating through various segments, including U.S., Swiss, and Western European Operations, among others. Its product line features laboratory instruments and software solutions for data management, catering to a broad spectrum of industries.
