Comerica Bank Has $4.88 Million Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Comerica Bank trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,985 shares of the medical instruments supplier’s stock after selling 232 shares during the period. Comerica Bank’s holdings in Mettler-Toledo International were worth $4,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MTD. Norges Bank acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at $372,954,000. Proficio Capital Partners LLC bought a new stake in Mettler-Toledo International during the 4th quarter worth about $163,216,000. T. Rowe Price Investment Management Inc. increased its position in Mettler-Toledo International by 36.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock valued at $444,327,000 after acquiring an additional 96,300 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Mettler-Toledo International by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier’s stock worth $262,211,000 after acquiring an additional 74,187 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new position in shares of Mettler-Toledo International during the fourth quarter worth approximately $89,221,000. Institutional investors own 95.07% of the company’s stock.

Insider Transactions at Mettler-Toledo International

In related news, insider Gerry Keller sold 600 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the sale, the insider now directly owns 6 shares of the company’s stock, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christian Magloth sold 790 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $964,248.46. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,090.24 on Tuesday. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.30 and a beta of 1.40. The company’s 50 day simple moving average is $1,132.87 and its 200 day simple moving average is $1,229.48. Mettler-Toledo International Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The company had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same period last year, the firm posted $8.89 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, analysts predict that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group raised Mettler-Toledo International from an “underperform” rating to a “hold” rating and cut their price target for the company from $1,200.00 to $1,110.00 in a research note on Monday. Wells Fargo & Company raised their price target on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI boosted their price objective on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, Citigroup raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a research note on Monday, April 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $1,296.13.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company’s laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.