Pictet Asset Management Holding SA Sells 2,721 Shares of Mettler-Toledo International, Inc. $MTD

Pictet Asset Management Holding SA lowered its holdings in Mettler-Toledo International, Inc. (NYSE:MTD) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,515 shares of the medical instruments supplier’s stock after selling 2,721 shares during the period. Pictet Asset Management Holding SA’s holdings in Mettler-Toledo International were worth $24,953,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Mettler-Toledo International during the second quarter worth about $2,404,713,000. Bank of New York Mellon Corp bought a new position in shares of Mettler-Toledo International in the second quarter worth approximately $762,553,000. Wellington Management Group LLP raised its stake in Mettler-Toledo International by 908.6% in the second quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after purchasing an additional 413,547 shares in the last quarter. Amundi raised its stake in Mettler-Toledo International by 40.7% in the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier’s stock valued at $307,420,000 after purchasing an additional 69,620 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Mettler-Toledo International by 60.9% in the first quarter. Bank of America Corp DE now owns 207,286 shares of the medical instruments supplier’s stock valued at $261,429,000 after purchasing an additional 78,487 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD opened at $1,750.03 on Thursday. The stock has a market cap 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 company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,806.58. The stock’s 50-day moving average is $1,546.33 and its 200 day moving average is $1,350.82.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 earnings per share for the quarter, topping analysts’ consensus estimates of $12.13 by $0.44. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.15 EPS. On average, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 47.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Gerry Keller sold 435 shares of Mettler-Toledo International 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 approximately $449,118.95. The trade was a 62.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 27th. The stock was 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 approximately $6,384,000. This represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTD shares. Morgan Stanley lifted their target price on shares of Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada started coverage on shares of Mettler-Toledo International in a research report on Tuesday, September 1st. They set a “sector perform” rating and a $1,515.00 price objective on the stock. Weiss Ratings upgraded shares of Mettler-Toledo International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. 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 objective for the company. Finally, Wells Fargo & Company upped their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Mettler-Toledo International has an average rating of “Hold” and a consensus price target of $1,595.77.

Mettler-Toledo International Company 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.