Burney Co. Cuts Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Burney Co. reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,590 shares of the medical instruments supplier's stock after selling 247 shares during the quarter. Burney Co.'s holdings in Mettler-Toledo International were worth $4,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTD. GAMMA Investing LLC raised its stake in shares of Mettler-Toledo International by 131,246.3% in the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock worth $456,018,000 after purchasing an additional 385,864 shares during the last quarter. Norges Bank acquired a new stake in Mettler-Toledo International in the fourth quarter valued at approximately $372,954,000. T. Rowe Price Investment Management Inc. grew its holdings in Mettler-Toledo International by 36.1% in the fourth 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 purchasing an additional 96,300 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Mettler-Toledo International by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock worth $262,211,000 after acquiring an additional 74,187 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Mettler-Toledo International by 9.9% in the fourth quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier's stock worth $713,627,000 after acquiring an additional 52,726 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Up 0.3%

NYSE MTD traded up $3.22 during mid-day trading on Friday, hitting $1,263.97. The stock had a trading volume of 155,612 shares, compared to its average volume of 175,277. Mettler-Toledo International, Inc. has a 52-week low of $946.69 and a 52-week high of $1,546.93. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 3.86 and a beta of 1.37. The company has a 50 day simple moving average of $1,181.58 and a 200 day simple moving average of $1,193.94.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its 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. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The firm had revenue of $883.74 million for the quarter, compared to analysts' expectations of $876.61 million. During the same quarter in the prior year, the firm earned $8.89 EPS. Mettler-Toledo International's quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird lowered 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 note on Tuesday, April 22nd. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and cut their price objective for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Citigroup raised 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. Bank of America upped 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. Finally, UBS Group raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $1,280.90.

Insider Activity

In related news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction 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 transaction, the director directly owned 120 shares of the company's stock, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.94% of the stock is owned by company insiders.

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.