Avanza Fonder AB Sells 446 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Avanza Fonder AB lowered its stake in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 25.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the medical instruments supplier's stock after selling 446 shares during the period. Avanza Fonder AB's holdings in Mettler-Toledo International were worth $1,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Mettler-Toledo International by 14.3% in the 4th quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock valued at $78,000 after buying an additional 8 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Mettler-Toledo International by 2.5% during 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 period. Steward Partners Investment Advisory LLC boosted its holdings in 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. Atlantic Union Bankshares Corp boosted its holdings in Mettler-Toledo International by 0.5% in the fourth quarter. Atlantic Union Bankshares Corp now owns 2,083 shares of the medical instruments supplier's stock valued at $2,549,000 after acquiring an additional 10 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in Mettler-Toledo International by 1.8% in the first quarter. Congress Asset Management Co. now owns 667 shares of the medical instruments supplier's stock worth $788,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Stock Performance

MTD stock traded down $27.58 during midday trading on Friday, hitting $1,160.63. 57,687 shares of the company's stock were exchanged, compared to its average volume of 151,623. Mettler-Toledo International Inc. has a one year low of $946.69 and a one year high of $1,546.93. The stock's fifty day moving average price is $1,101.85 and its 200-day moving average price is $1,204.77. The company has a market cap of $24.12 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.30 and a beta of 1.38.

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

Insider Activity at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the company'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 transaction of $1,231,845.66. Following the sale, the director now owns 120 shares in the company, valued at $139,191.60. This represents a 89.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.94% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on MTD shares. Jefferies Financial Group raised 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 report on Monday, May 5th. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a research note on Monday, April 7th. 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. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their target price for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company increased 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 research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Mettler-Toledo International currently has a consensus rating of "Hold" and an average target price of $1,302.11.

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.