475 Mettler-Toledo International, Inc. $MTD Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 5.9% in the third quarter, HoldingsChannel reports. The firm owned 7,573 shares of the medical instruments supplier’s stock after selling 475 shares during the period. Illinois Municipal Retirement Fund’s holdings in Mettler-Toledo International were worth $11,442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MTD. New York Life Investment Management LLC increased its stake in Mettler-Toledo International by 0.6% in the 3rd quarter. New York Life Investment Management LLC now owns 3,466 shares of the medical instruments supplier’s stock worth $5,237,000 after purchasing an additional 20 shares in the last quarter. 71 West Capital Partners acquired a new stake in Mettler-Toledo International during the 3rd quarter worth about $249,000. AlphaCore Capital LLC purchased a new stake in Mettler-Toledo International during the third quarter valued at about $322,000. Fulcrum Asset Management LLP lifted its stake in Mettler-Toledo International by 103.1% during the third quarter. Fulcrum Asset Management LLP now owns 6,580 shares of the medical instruments supplier’s stock valued at $10,116,000 after buying an additional 3,340 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Mettler-Toledo International by 9.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 951 shares of the medical instruments supplier’s stock valued at $1,409,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Insider Activity

In other news, insider Gerry Keller sold 435 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $1,734.05, for a total value of $754,311.75. Following the transaction, the insider owned 259 shares in the company, valued at $449,118.95. This represents a 62.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Kaltenbach sold 942 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the completion of the transaction, the chief executive officer owned 4,480 shares in the company, valued at $6,384,000. This represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays raised their target price on shares of Mettler-Toledo International from $1,700.00 to $1,900.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group assumed coverage on shares of Mettler-Toledo International in a report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mettler-Toledo International from $1,550.00 to $1,725.00 and gave the stock a “neutral” rating in a research note on Monday. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1,595.77.

Mettler-Toledo International Stock Performance

Shares of MTD stock opened at $1,750.03 on Thursday. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,806.58. The company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 3.49 and a beta of 1.16. The stock’s fifty day simple moving average is $1,546.33 and its 200-day simple moving average is $1,350.82.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 earnings per share for the quarter, beating the consensus estimate of $12.13 by $0.44. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Mettler-Toledo International had a return on equity of 15,012.71% and a net margin of 22.25%. Mettler-Toledo International’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $11.15 earnings per share. On average, sell-side analysts predict that Mettler-Toledo International, Inc. will post 47.83 earnings per share for the current fiscal year.

Mettler-Toledo International Profile

Mettler-Toledo International develops and manufactures precision instruments and systems used in laboratory, industrial, and retail settings. Its products include laboratory balances and analytical instruments, industrial scales and weighing systems, and equipment for measuring and monitoring production processes. The company also supplies product-inspection systems, including checkweighers, metal detectors, and X-ray inspection equipment, along with related software, installation, maintenance, and calibration services.