Bamco Inc. NY Decreases Position in Mettler Toledo (MTD)

Bamco Inc. NY reduced its stake in Mettler Toledo (NYSE:MTD) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,681 shares of the medical instruments supplier’s stock after selling 16,366 shares during the period. Mettler Toledo accounts for 1.6% of Bamco Inc. NY’s portfolio, making the stock its 15th largest position. Bamco Inc. NY owned approximately 2.36% of Mettler Toledo worth $344,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. USA Mutuals Advisors Inc. purchased a new stake in Mettler Toledo in the fourth quarter worth about $101,000. Signaturefd LLC purchased a new stake in Mettler Toledo in the first quarter worth about $111,000. Alps Advisors Inc. purchased a new stake in Mettler Toledo in the first quarter worth about $202,000. Lourd Capital LLC purchased a new stake in Mettler Toledo in the fourth quarter worth about $211,000. Finally, Quadrant Private Wealth Management LLC purchased a new stake in Mettler Toledo in the fourth quarter worth about $232,000. 92.12% of the stock is owned by institutional investors.

In other news, insider William P. Donnelly sold 4,000 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $567.85, for a total transaction of $2,271,400.00. Following the sale, the insider now owns 5,000 shares in the company, valued at $2,839,250. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William P. Donnelly sold 5,000 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $563.38, for a total transaction of $2,816,900.00. Following the sale, the insider now owns 4,000 shares in the company, valued at approximately $2,253,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,968 shares of company stock worth $13,142,739. Corporate insiders own 4.80% of the company’s stock.

NYSE:MTD opened at $562.10 on Friday. Mettler Toledo has a 52 week low of $555.23 and a 52 week high of $560.86. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.02 and a current ratio of 1.46. The company has a market cap of $14.13 billion, a PE ratio of 31.99, a PEG ratio of 2.13 and a beta of 1.21.

Mettler Toledo (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 3rd. The medical instruments supplier reported $3.74 EPS for the quarter, beating the Zacks’ consensus estimate of $3.73 by $0.01. Mettler Toledo had a net margin of 13.50% and a return on equity of 90.70%. The firm had revenue of $660.82 million for the quarter, compared to analysts’ expectations of $651.87 million. During the same quarter in the prior year, the company posted $3.34 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. equities analysts predict that Mettler Toledo will post 20.25 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on MTD shares. Morgan Stanley cut their price objective on shares of Mettler Toledo from $595.00 to $568.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 11th. Cleveland Research cut shares of Mettler Toledo from a “buy” rating to a “neutral” rating in a report on Tuesday, May 1st. Goldman Sachs cut shares of Mettler Toledo from a “buy” rating to a “neutral” rating in a report on Monday, April 9th. Deutsche Bank upped their price objective on shares of Mettler Toledo from $600.00 to $630.00 and gave the stock a “hold” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Mettler Toledo from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Mettler Toledo presently has a consensus rating of “Hold” and a consensus target price of $632.00.

Mettler Toledo 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; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.

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Institutional Ownership by Quarter for Mettler Toledo (NYSE:MTD)

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