Cambridge Investment Research Advisors Inc. decreased its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 23.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,056 shares of the medical instruments supplier's stock after selling 329 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Mettler-Toledo International were worth $1,247,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Mettler-Toledo International in the 1st quarter valued at $714,000. North Point Portfolio Managers Corp OH boosted its holdings in shares of Mettler-Toledo International by 1.1% in the 1st quarter. North Point Portfolio Managers Corp OH now owns 9,277 shares of the medical instruments supplier's stock worth $10,955,000 after purchasing an additional 97 shares in the last quarter. Suncoast Equity Management lifted its stake in shares of Mettler-Toledo International by 15.1% in the 1st quarter. Suncoast Equity Management now owns 586 shares of the medical instruments supplier's stock valued at $692,000 after acquiring an additional 77 shares during the last quarter. Abundance Wealth Counselors raised its position in shares of Mettler-Toledo International by 8.9% in the 1st quarter. Abundance Wealth Counselors now owns 736 shares of the medical instruments supplier's stock worth $880,000 after acquiring an additional 60 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Mettler-Toledo International by 520.0% during the 1st quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier's stock valued at $73,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.
Insider Activity
In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the firm'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 value of $1,231,845.66. Following the sale, the director owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.94% of the company's stock.
Analyst Upgrades and Downgrades
MTD has been the topic of several research reports. Barclays initiated coverage on Mettler-Toledo International in a report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 target price on the stock. Robert W. Baird lowered their target price on shares of 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. 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 report on Monday, April 7th. Wells Fargo & Company increased their price objective on shares of 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, Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price objective for the stock from $1,200.00 to $1,110.00 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $1,300.36.
Check Out Our Latest Analysis on MTD
Mettler-Toledo International Trading Up 0.3%
Shares of MTD stock opened at $1,209.08 on Friday. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93. The firm's 50 day moving average is $1,150.84 and its 200-day moving average is $1,196.01. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 3.72 and a beta of 1.37.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The company had revenue of $883.74 million during the quarter, compared to analyst estimates of $876.61 million. During the same quarter in the previous year, the business earned $8.89 EPS. The firm's revenue was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.
About Mettler-Toledo International
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International, Inc. (NYSE:MTD - Free Report).

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