Allianz Asset Management GmbH Cuts Stock Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Allianz Asset Management GmbH lessened its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 85.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,251 shares of the medical instruments supplier's stock after selling 13,158 shares during the period. Allianz Asset Management GmbH's holdings in Mettler-Toledo International were worth $2,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Mettler-Toledo International by 39.1% during the first quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock worth $103,000 after acquiring an additional 25 shares in the last quarter. QRG Capital Management Inc. increased its position in Mettler-Toledo International by 29.4% during the 1st quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier's stock worth $577,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Mettler-Toledo International by 13.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,488 shares of the medical instruments supplier's stock valued at $2,929,000 after purchasing an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Mettler-Toledo International by 95.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier's stock valued at $2,600,000 after buying an additional 1,073 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Mettler-Toledo International by 7.1% during the first quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier's stock worth $40,871,000 after buying an additional 2,296 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Insider Activity at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.94% of the stock is currently owned by insiders.

Mettler-Toledo International Trading Up 0.0%

Shares of MTD traded up $0.01 during trading hours on Wednesday, reaching $1,266.11. 168,899 shares of the company's stock traded hands, compared to its average volume of 140,275. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93. The stock has a market cap of $26.31 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The firm's 50 day simple moving average is $1,187.29 and its 200-day simple moving average is $1,194.11.

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, beating analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The business had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. During the same quarter last year, the business posted $8.89 earnings per share. The company's revenue for the quarter was down 4.6% on a year-over-year basis. As a group, analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays assumed coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 target price for the company. Robert W. Baird raised their price target on shares of Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the company a "neutral" rating in a research note on Monday. Wall Street Zen cut shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. 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 report on Monday, April 7th. Finally, Bank of America raised their price objective on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $1,298.50.

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.