Bamco Inc. NY Decreases Position in Mettler-Toledo International Inc. (NYSE:MTD)

Bamco Inc. NY lessened its position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 280,994 shares of the medical instruments supplier's stock after selling 7,753 shares during the period. Mettler-Toledo International accounts for 0.9% of Bamco Inc. NY's investment portfolio, making the stock its 22nd biggest position. Bamco Inc. NY owned approximately 1.33% of Mettler-Toledo International worth $343,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MTD. SBI Securities Co. Ltd. purchased a new stake in Mettler-Toledo International in the 4th quarter worth approximately $33,000. Edmond DE Rothschild Holding S.A. bought a new stake in Mettler-Toledo International in the fourth quarter valued at $44,000. Blue Trust Inc. increased its position in Mettler-Toledo International by 70.8% during the 4th quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier's stock valued at $50,000 after purchasing an additional 17 shares during the period. Whipplewood Advisors LLC bought a new position in Mettler-Toledo International in the 4th quarter worth $54,000. Finally, Sound Income Strategies LLC lifted its position in shares of Mettler-Toledo International by 4,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier's stock worth $56,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 95.07% of the company's stock.

Insider Activity

In related news, insider Christian Magloth sold 790 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the completion of the transaction, the insider now directly owns 734 shares of the company's stock, valued at approximately $964,248.46. This represents a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerry Keller sold 600 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the transaction, the insider now owns 6 shares of the company's stock, valued at $8,108.04. This represents a 99.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Trading Down 1.4 %

MTD stock traded down $15.63 during midday trading on Friday, reaching $1,086.00. 67,892 shares of the company's stock traded hands, compared to its average volume of 146,652. The stock's 50-day moving average is $1,121.89 and its 200 day moving average is $1,225.50. The stock has a market cap of $22.63 billion, a P/E ratio of 26.79, a PEG ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a 52-week low of $946.69 and a 52-week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, topping the consensus estimate of $7.90 by $0.29. The firm had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $8.89 earnings per share. As a group, research analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MTD shares. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price for the company in a research note on Monday, April 7th. Wells Fargo & Company raised their price target on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Monday. Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price target for the stock from $1,200.00 to $1,110.00 in a research note on Monday. Robert W. Baird reduced their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI upped their target price on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $1,296.13.

Mettler-Toledo International Company 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.