Mackenzie Financial Corp cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 3.0% in the first quarter, according to the company’s most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,142 shares of the medical instruments supplier’s stock after selling 433 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Mettler-Toledo International worth $21,640,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in MTD. Norges Bank acquired a new stake in shares of Mettler-Toledo International during the fourth quarter valued at about $428,679,000. StonePine Asset Management Inc. increased its position in shares of Mettler-Toledo International by 733.5% during the first quarter. StonePine Asset Management Inc. now owns 94,664 shares of the medical instruments supplier’s stock valued at $144,856,000 after acquiring an additional 83,307 shares during the last quarter. Alliancebernstein LP increased its position in shares of Mettler-Toledo International by 15.1% during the fourth quarter. Alliancebernstein LP now owns 532,108 shares of the medical instruments supplier’s stock valued at $769,136,000 after acquiring an additional 69,852 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Mettler-Toledo International by 26.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 326,105 shares of the medical instruments supplier’s stock valued at $471,369,000 after purchasing an additional 67,758 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Mettler-Toledo International by 160.2% in the first quarter. First Trust Advisors LP now owns 54,155 shares of the medical instruments supplier’s stock valued at $74,365,000 after purchasing an additional 33,342 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently weighed in on MTD. Wells Fargo & Company dropped their price objective on shares of Mettler-Toledo International from $1,675.00 to $1,660.00 in a report on Monday, May 8th. StockNews.com began coverage on shares of Mettler-Toledo International in a report on Thursday, May 18th. They issued a “buy” rating for the company. 51job restated a “maintains” rating on shares of Mettler-Toledo International in a report on Monday, May 8th. Bank of America decreased their price target on shares of Mettler-Toledo International from $1,650.00 to $1,525.00 in a research note on Sunday, May 7th. Finally, Robert W. Baird decreased their price target on shares of Mettler-Toledo International from $1,513.00 to $1,454.00 in a research note on Monday, May 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mettler-Toledo International has an average rating of “Hold” and a consensus target price of $1,469.50.
Mettler-Toledo International Stock Up 1.9 %
Shares of NYSE:MTD opened at $1,293.66 on Tuesday. The company has a market capitalization of $28.49 billion, a PE ratio of 32.85, a P/E/G ratio of 2.36 and a beta of 1.15. The company has a current ratio of 1.28, a quick ratio of 0.86 and a debt-to-equity ratio of 76.98. Mettler-Toledo International Inc. has a twelve month low of $1,065.55 and a twelve month high of $1,615.97. The firm has a 50-day simple moving average of $1,338.86 and a 200-day simple moving average of $1,446.75.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last issued its quarterly earnings data on Thursday, May 4th. The medical instruments supplier reported $8.69 earnings per share for the quarter, topping the consensus estimate of $8.61 by $0.08. The business had revenue of $928.70 million during the quarter, compared to the consensus estimate of $921.19 million. Mettler-Toledo International had a net margin of 22.45% and a negative return on equity of 4,833.51%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.87 EPS. On average, equity analysts predict that Mettler-Toledo International Inc. will post 43.88 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Ann Ping Richard Wong sold 1,363 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $1,395.27, for a total transaction of $1,901,753.01. Following the completion of the sale, the insider now owns 380 shares in the company, valued at approximately $530,202.60. The sale was disclosed in a document filed with the SEC, which can be accessed via the SEC website. In other Mettler-Toledo International news, insider Ann Ping Richard Wong sold 1,363 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $1,395.27, for a total transaction of $1,901,753.01. Following the completion of the transaction, the insider now owns 380 shares in the company, valued at approximately $530,202.60. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider Christian Magloth sold 725 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $1,384.65, for a total transaction of $1,003,871.25. Following the transaction, the insider now owns 730 shares of the company’s stock, valued at approximately $1,010,794.50. The disclosure for this sale can be found here. Insiders sold a total of 3,417 shares of company stock worth $4,731,561 in the last 90 days. Company insiders own 2.40% of the company’s stock.
Mettler-Toledo International Profile
(Free Report)
Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the United States and internationally. It operates through five segments: US Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company’s laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, 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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