Balyasny Asset Management L.P. Sells 33,023 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Balyasny Asset Management L.P. lessened its stake in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 81.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,363 shares of the medical instruments supplier's stock after selling 33,023 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Mettler-Toledo International were worth $9,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Mettler-Toledo International by 14.3% in the fourth quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock valued at $78,000 after purchasing an additional 8 shares in the last quarter. M3 Advisory Group LLC boosted its stake in shares of Mettler-Toledo International by 5.8% during the 4th quarter. M3 Advisory Group LLC now owns 165 shares of the medical instruments supplier's stock worth $202,000 after buying an additional 9 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Mettler-Toledo International by 2.5% in the fourth quarter. Apollon Wealth Management LLC now owns 368 shares of the medical instruments supplier's stock valued at $451,000 after acquiring an additional 9 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Mettler-Toledo International by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 306 shares of the medical instruments supplier's stock valued at $374,000 after acquiring an additional 9 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its holdings in Mettler-Toledo International by 0.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 2,083 shares of the medical instruments supplier's stock worth $2,549,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Insider Buying and Selling at Mettler-Toledo International

In related news, insider Christian Magloth sold 790 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the transaction, the insider now owns 734 shares in the company, valued at approximately $964,248.46. This trade represents a 51.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Stock Up 8.7%

Shares of MTD traded up $94.35 during trading hours on Monday, hitting $1,175.33. The company had a trading volume of 217,102 shares, compared to its average volume of 145,957. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.30 and a beta of 1.40. The business has a fifty day moving average of $1,116.98 and a 200-day moving average of $1,221.64. 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 released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $883.74 million during the quarter, compared to analysts' expectations of $876.61 million. During the same period last year, the firm posted $8.89 EPS. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MTD shares. Evercore ISI boosted their price target on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company increased their price target on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price objective for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Finally, Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research note on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Mettler-Toledo International presently has an average rating of "Hold" and an average target price of $1,296.13.

Mettler-Toledo International 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.