Pitcairn Co. trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336 shares of the medical instruments supplier’s stock after selling 19 shares during the quarter. Pitcairn Co.’s holdings in Mettler-Toledo International were worth $270,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Mettler-Toledo International by 473.6% during the first quarter. JPMorgan Chase & Co. now owns 179,647 shares of the medical instruments supplier’s stock worth $124,049,000 after buying an additional 148,329 shares in the last quarter. FDx Advisors Inc. lifted its holdings in shares of Mettler-Toledo International by 7,881.2% during the first quarter. FDx Advisors Inc. now owns 83,004 shares of the medical instruments supplier’s stock worth $4,210,000 after buying an additional 81,964 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in shares of Mettler-Toledo International during the first quarter worth $45,112,000. WCM Investment Management LLC lifted its holdings in shares of Mettler-Toledo International by 5.2% during the first quarter. WCM Investment Management LLC now owns 1,251,697 shares of the medical instruments supplier’s stock worth $864,309,000 after buying an additional 61,959 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Mettler-Toledo International by 29.5% during the first quarter. Alliancebernstein L.P. now owns 235,264 shares of the medical instruments supplier’s stock worth $162,452,000 after buying an additional 53,632 shares in the last quarter. 94.24% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on MTD. Bank of America lifted their target price on Mettler-Toledo International from $755.00 to $830.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. UBS Group lifted their target price on Mettler-Toledo International from $755.00 to $770.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Citigroup boosted their price target on Mettler-Toledo International from $725.00 to $740.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Mettler-Toledo International in a research note on Friday. Finally, Evercore ISI downgraded Mettler-Toledo International from an “in-line” rating to an “underperform” rating in a research note on Sunday, April 19th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $733.20.
Shares of NYSE MTD opened at $935.00 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.34 and a debt-to-equity ratio of 4.94. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 4.74 and a beta of 1.08. Mettler-Toledo International Inc. has a 12 month low of $579.40 and a 12 month high of $953.70. The stock has a 50-day moving average price of $823.58 and a two-hundred day moving average price of $759.60.
Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $5.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.27 by $1.02. The firm had revenue of $690.67 million during the quarter, compared to the consensus estimate of $647.43 million. Mettler-Toledo International had a return on equity of 144.27% and a net margin of 18.61%. During the same quarter in the previous year, the firm earned $5.16 earnings per share. On average, sell-side analysts predict that Mettler-Toledo International Inc. will post 23.1 earnings per share for the current year.
In other Mettler-Toledo International news, insider Christian Magloth sold 750 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $702.96, for a total transaction of $527,220.00. Following the completion of the transaction, the insider now owns 901 shares of the company’s stock, valued at $633,366.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert F. Spoerry sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $700.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 9,148 shares of the company’s stock, valued at approximately $6,403,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,547 shares of company stock valued at $9,694,046. Insiders own 3.20% of the company’s stock.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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