Carnegie Investment Counsel Sells 2,088 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• Carnegie Investment Counsel reduced its Mettler-Toledo stake by 22.6% in the third quarter, selling 2,088 shares and retaining 7,151 shares valued at approximately $10.8 million. Institutional investors and hedge funds collectively own 95.07% of the company.
• Company insiders have also been selling shares, including the CFO’s disposal of 2,240 shares and a director’s sale of 417 shares. Insiders sold 4,254 shares worth about $6.1 million over the past three months.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1,469.15, below the reported opening price of $1,637.79. Mettler-Toledo recently exceeded quarterly EPS expectations and reported 4.5% year-over-year revenue growth.

Carnegie Investment Counsel trimmed its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 22.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,151 shares of the medical instruments supplier's stock after selling 2,088 shares during the quarter. Carnegie Investment Counsel's holdings in Mettler-Toledo International were worth $10,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTD. Whipplewood Advisors LLC acquired a new stake in Mettler-Toledo International during the 1st quarter worth $25,000. Reflection Asset Management acquired a new position in shares of Mettler-Toledo International in the fourth quarter valued at approximately $26,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Mettler-Toledo International in the second quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in Mettler-Toledo International in the 2nd quarter valued at approximately $32,000. Finally, Root Financial Partners LLC grew its holdings in Mettler-Toledo International by 45.5% during the first quarter. Root Financial Partners LLC now owns 32 shares of the medical instruments supplier's stock worth $40,000 after acquiring an additional 10 shares during the period. 95.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas P. Salice sold 417 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the completion of the sale, the director directly owned 292 shares of the company's stock, valued at $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the sale, the chief financial officer directly owned 5,579 shares of the company's stock, valued at approximately $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,254 shares of company stock valued at $6,092,712 over the last three months. Corporate insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MTD shares. Rothschild & Co Redburn started coverage on shares of Mettler-Toledo International in a report on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 target price for the company. UBS Group began coverage on shares of Mettler-Toledo International in a report on Wednesday, September 9th. They set a "neutral" rating and a $1,460.00 price target for the company. Barclays upped their target price on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Stifel Nicolaus lifted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company increased their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $1,469.15.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,637.79 on Wednesday. Mettler-Toledo International, Inc. has a 52-week low of $1,023.05 and a 52-week high of $1,659.70. The firm has a market capitalization of $32.82 billion, a PE ratio of 36.22, a P/E/G ratio of 3.27 and a beta of 1.19. The firm has a 50-day moving average price of $1,450.39 and a 200 day moving average price of $1,319.57. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. Mettler-Toledo International's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.09 earnings per share. On average, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 47.37 earnings per share for the current fiscal year.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc NYSE: MTD develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company's laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.

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