Northwest & Ethical Investments L.P. has reduced its holdings in Mettler-Toledo International, Inc. by 1.9% during the second quarter of 2023. The investment firm now owns 20,263 shares of the medical instruments supplier after selling 401 shares, according to a report from Holdings Channel. As of its latest filing with the Securities and Exchange Commission (SEC), Northwest & Ethical Investments valued its stake at approximately $23.8 million.
Changes in institutional investor positions are notable, as several other firms have adjusted their stakes in Mettler-Toledo. Advisors Asset Management Inc. increased its holdings by 13.3%, now owning 1,336 shares valued at $1.57 million after acquiring an additional 157 shares. Similarly, Prudential Financial Inc. raised its stake by 0.8%, holding 13,914 shares worth about $16.35 million following a purchase of 104 shares.
Several other firms have also made moves. Cynosure Group LLC acquired a new stake valued at $1.45 million, while Charles Schwab Investment Management Inc. increased its position by 6.3%, now holding 155,829 shares worth $183.06 million. Additionally, American Century Companies Inc. lifted its holdings by 14.0%, owning 87,511 shares valued at $102.8 million. Overall, institutional investors and hedge funds currently control approximately 95.07% of Mettler-Toledo’s stock.
Analysts Adjust Price Targets and Ratings
Recent assessments from various research firms indicate a positive outlook for Mettler-Toledo. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, 2023. Meanwhile, JPMorgan Chase & Co. increased its price target from $1,200.00 to $1,285.00, maintaining a “neutral” rating. Robert W. Baird also raised its price objective from $1,210.00 to $1,230.00 with a “neutral” rating.
In a contrasting view, Barclays and Stifel Nicolaus both increased their price targets to $1,600.00, with Barclays assigning an “overweight” rating and Stifel Nicolaus designating a “buy” rating. The stock has received five “buy” ratings and seven “hold” ratings, resulting in an average rating of “hold” and an average price target of $1,406.50, according to data from MarketBeat.
Insider Transactions and Stock Performance
Insider activity has also been noteworthy. On November 21, 2023, insider Gerry Keller sold 236 shares at an average price of $1,418.58, totaling approximately $334,784.88. Following this sale, Keller retained 159 shares valued at about $225,554.22, reflecting a 59.75% decrease in his position. Another insider, Marc De La Guerroniere, sold 6,880 shares on November 11, 2023, for a total of $9,976,000.00, reducing his holdings by 97.35%.
Over the last 90 days, insiders have sold a total of 11,485 shares worth roughly $16.67 million. Currently, insiders own approximately 1.94% of Mettler-Toledo’s stock.
Mettler-Toledo’s stock opened at $1,506.58 on Wednesday. The company has experienced a twelve-month low of $946.69 and a high of $1,525.17. With a market capitalization of $30.78 billion, the firm displays a price-to-earnings (P/E) ratio of 38.15 and a beta of 1.41.
In its most recent quarterly earnings report, announced on November 6, 2023, Mettler-Toledo reported earnings per share (EPS) of $11.15, surpassing the consensus estimate of $10.62 by $0.53. The company generated $1.03 billion in revenue during the quarter, exceeding analyst expectations of $997.36 million. Year-over-year, revenue increased by 7.9%, up from $10.21 EPS in the same period last year.
Looking ahead, Mettler-Toledo has set its Q4 2025 guidance between $12.680 and $12.880 EPS, with FY 2025 guidance ranging from $42.050 to $42.250 EPS. Analysts project Mettler-Toledo will achieve $42.71 EPS for the current fiscal year.
Mettler-Toledo International Inc. is a leading manufacturer and supplier of precision instruments and services across the Americas, Europe, and Asia. The company’s operations span five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. Its product offerings include laboratory instruments and software platforms designed to manage and analyze data generated from its devices.
