Avity Investment Management Inc. Cuts Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Avity Investment Management Inc. lowered its position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 92.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 371 shares of the medical instruments supplier's stock after selling 4,775 shares during the period. Avity Investment Management Inc.'s holdings in Mettler-Toledo International were worth $438,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Mettler-Toledo International by 131,246.3% in the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after acquiring an additional 385,864 shares in the last quarter. Norges Bank bought a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $372,954,000. Proficio Capital Partners LLC bought a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $163,216,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Mettler-Toledo International by 36.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock valued at $444,327,000 after acquiring an additional 96,300 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Mettler-Toledo International by 53.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock valued at $262,211,000 after acquiring an additional 74,187 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Stock Up 1.7%

MTD stock traded up $19.27 during midday trading on Friday, reaching $1,183.88. 158,407 shares of the company's stock traded hands, compared to its average volume of 151,346. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 3.30 and a beta of 1.38. The firm's fifty day moving average price is $1,091.77 and its 200-day moving average price is $1,204.66. 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 announced its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating analysts' consensus estimates of $7.90 by $0.29. The business had revenue of $883.74 million during 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%. Mettler-Toledo International's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.89 EPS. Analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Analysts Set New Price Targets

MTD has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective 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. Evercore ISI lifted their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Wall Street Zen lowered shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird lowered 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, Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective for the company in a research note on Monday, April 7th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $1,302.11.

Insiders Place Their Bets

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the transaction, the director now directly owns 120 shares of the company's stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.94% of the company's stock.

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.