Retirement Systems of Alabama Sells 398 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Retirement Systems of Alabama lowered its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,007 shares of the medical instruments supplier’s stock after selling 398 shares during the period. Retirement Systems of Alabama’s holdings in Mettler-Toledo International were worth $38,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTD. GAMMA Investing LLC grew its position in Mettler-Toledo International by 131,246.3% during the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock worth $456,018,000 after acquiring an additional 385,864 shares during the last quarter. Norges Bank bought a new stake in Mettler-Toledo International during the 4th quarter worth $372,954,000. Proficio Capital Partners LLC bought a new stake in Mettler-Toledo International during the 4th quarter worth $163,216,000. T. Rowe Price Investment Management Inc. grew its position in Mettler-Toledo International by 36.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock worth $444,327,000 after acquiring an additional 96,300 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Mettler-Toledo International by 53.0% during the 4th 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. Institutional investors own 95.07% of the company’s stock.

Insider Activity at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the sale, the director now directly owns 120 shares of the company’s stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTD shares. UBS Group raised Mettler-Toledo International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Jefferies Financial Group raised Mettler-Toledo International from an “underperform” rating to a “hold” rating and cut their target price for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Wells Fargo & Company lifted their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Citigroup raised Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a report on Monday, April 7th. Finally, Wall Street Zen downgraded Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International presently has a consensus rating of “Hold” and a consensus price target of $1,302.11.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD opened at $1,154.80 on Friday. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 3.39 and a beta of 1.38. The business’s 50-day moving average is $1,118.58 and its 200-day moving average is $1,200.97. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.29. The company had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.89 EPS. Analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Mettler-Toledo International Company Profile

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.