First Trust Advisors LP decreased its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 59.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,907 shares of the medical instruments supplier’s stock after selling 8,803 shares during the period. First Trust Advisors LP’s holdings in Mettler-Toledo International were worth $5,705,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in shares of Mettler-Toledo International by 4.9% in the 2nd quarter. WCM Investment Management LLC now owns 1,312,870 shares of the medical instruments supplier’s stock valued at $1,057,583,000 after buying an additional 61,173 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Mettler-Toledo International by 24.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 215,212 shares of the medical instruments supplier’s stock worth $173,364,000 after purchasing an additional 41,925 shares during the period. Bank of Montreal Can boosted its stake in Mettler-Toledo International by 17.8% during the 2nd quarter. Bank of Montreal Can now owns 131,002 shares of the medical instruments supplier’s stock worth $108,801,000 after purchasing an additional 19,802 shares during the period. Nuveen Asset Management LLC boosted its stake in Mettler-Toledo International by 1.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 113,801 shares of the medical instruments supplier’s stock worth $91,672,000 after purchasing an additional 1,757 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Mettler-Toledo International by 91.1% during the 2nd quarter. Nordea Investment Management AB now owns 100,296 shares of the medical instruments supplier’s stock worth $78,220,000 after purchasing an additional 47,824 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Mettler-Toledo International from a “neutral” rating to an “underweight” rating and set a $880.00 price target on the stock. in a research note on Monday, September 28th. UBS Group lowered shares of Mettler-Toledo International from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $770.00 to $880.00 in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Mettler-Toledo International in a research note on Friday, July 31st. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $756.55.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $7.02 earnings per share for the quarter, topping the consensus estimate of $6.02 by $1.00. The business had revenue of $807.36 million during the quarter, compared to the consensus estimate of $749.04 million. Mettler-Toledo International had a net margin of 18.61% and a return on equity of 138.77%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.77 earnings per share. Analysts predict that Mettler-Toledo International Inc. will post 23.25 EPS for the current year.
In other Mettler-Toledo International news, insider Gerry Keller sold 388 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $1,182.48, for a total transaction of $458,802.24. Following the completion of the sale, the insider now owns 607 shares of the company’s stock, valued at $717,765.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shawn Vadala sold 1,114 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $1,182.48, for a total value of $1,317,282.72. Following the sale, the chief financial officer now directly owns 5,231 shares of the company’s stock, valued at approximately $6,185,552.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,004 shares of company stock worth $3,552,170. Corporate insiders own 3.20% of the company’s stock.
Mettler-Toledo International Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and 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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