Avanza Fonder AB trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,280 shares of the medical instruments supplier’s stock after selling 446 shares during the quarter. Avanza Fonder AB’s holdings in Mettler-Toledo International were worth $1,501,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Allworth Financial LP raised its stake in shares of Mettler-Toledo International by 367.4% in the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier’s stock valued at $285,000 after purchasing an additional 169 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Mettler-Toledo International by 7.3% in the fourth quarter. Royal Bank of Canada now owns 45,756 shares of the medical instruments supplier’s stock valued at $55,990,000 after purchasing an additional 3,105 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Mettler-Toledo International by 5.8% in the fourth quarter. Impax Asset Management Group plc now owns 198,852 shares of the medical instruments supplier’s stock valued at $243,331,000 after purchasing an additional 10,830 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Mettler-Toledo International by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 12,600 shares of the medical instruments supplier’s stock valued at $15,418,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Mettler-Toledo International by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 274,563 shares of the medical instruments supplier’s stock valued at $335,977,000 after purchasing an additional 33,456 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on MTD shares. UBS Group upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and cut their target price for the company from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Citigroup upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 price objective for the company in a research note on Monday, April 7th. Wall Street Zen lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group upgraded Mettler-Toledo International from an “underperform” rating to a “hold” rating and dropped their price objective for the stock from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International currently has a consensus rating of “Hold” and an average price target of $1,302.11.
Mettler-Toledo International Stock Down 2.0%
Shares of MTD stock opened at $1,192.00 on Thursday. The stock has a 50-day moving average price of $1,098.71 and a 200 day moving average price of $1,205.01. The firm has a market cap of $24.77 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 3.30 and a beta of 1.38. Mettler-Toledo International Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The firm had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same quarter last year, the business earned $8.89 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.
Insider Buying and Selling at Mettler-Toledo International
In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 120 shares in the company, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.94% of the company’s stock.
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.
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