California State Teachers Retirement System Reduces Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

California State Teachers Retirement System lowered its position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,926 shares of the medical instruments supplier's stock after selling 2,682 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Mettler-Toledo International worth $41,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Mettler-Toledo International in the fourth quarter valued at approximately $372,954,000. Proficio Capital Partners LLC bought a new stake in Mettler-Toledo International in the fourth quarter valued at approximately $163,216,000. T. Rowe Price Investment Management Inc. lifted its position 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 last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $262,211,000 after purchasing an additional 74,187 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in Mettler-Toledo International by 3,183.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 71,673 shares of the medical instruments supplier's stock valued at $87,705,000 after purchasing an additional 69,490 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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 research report on Monday, April 7th. Evercore ISI upped their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their target price for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Robert W. Baird decreased their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company upped their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $1,302.11.

Mettler-Toledo International Stock Down 1.4%

Shares of NYSE MTD traded down $16.85 during trading on Friday, reaching $1,156.33. The company had a trading volume of 317,154 shares, compared to its average volume of 150,673. 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 $24.03 billion, a PE ratio of 28.53, a P/E/G ratio of 3.30 and a beta of 1.40. The business's 50-day moving average is $1,093.82 and its 200 day moving average is $1,206.12.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results 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. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The firm had revenue of $883.74 million for the quarter, compared to analysts' expectations of $876.61 million. During the same period in the prior year, the firm posted $8.89 earnings per share. The company's quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the business's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.94% of the company's stock.

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.