Bank of New York Mellon Corp Lowers Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Bank of New York Mellon Corp lessened its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,845 shares of the medical instruments supplier's stock after selling 9,623 shares during the period. Bank of New York Mellon Corp owned 2.53% of Mettler-Toledo International worth $623,337,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTD. Alliancebernstein L.P. lifted its holdings in Mettler-Toledo International by 9.9% during the 4th quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier's stock worth $713,627,000 after purchasing an additional 52,726 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Mettler-Toledo International by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier's stock valued at $682,340,000 after acquiring an additional 11,032 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Mettler-Toledo International by 6.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 455,739 shares of the medical instruments supplier's stock valued at $557,680,000 after acquiring an additional 25,873 shares in the last quarter. GAMMA Investing LLC raised its holdings 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. Finally, T. Rowe Price Investment Management Inc. raised its holdings 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. Hedge funds and other institutional investors own 95.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTD. Robert W. Baird reduced their price objective on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Citigroup upgraded 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 report on Monday, April 7th. Barclays began coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 price target on the stock. Wells Fargo & Company raised their price target on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen lowered Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Mettler-Toledo International has an average rating of "Hold" and an average target price of $1,300.36.

Mettler-Toledo International Trading Up 0.3%

Shares of MTD stock traded up $3.43 during trading hours on Friday, reaching $1,209.08. The company's stock had a trading volume of 41,859 shares, compared to its average volume of 150,239. The stock has a market capitalization of $25.12 billion, a P/E ratio of 30.15, a P/E/G ratio of 3.72 and a beta of 1.37. Mettler-Toledo International, Inc. has a one year low of $946.69 and a one year high of $1,546.93. The firm's fifty day simple moving average is $1,150.84 and its 200 day simple moving average is $1,195.89.

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 earnings per share for the quarter, topping analysts' consensus estimates of $7.90 by $0.29. The firm had revenue of $883.74 million for the quarter, compared to analyst estimates of $876.61 million. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The business's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $8.89 EPS. As a group, equities research analysts forecast that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Insider Activity at Mettler-Toledo International

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

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.