Mettler-Toledo International, Inc. (NYSE:MTD) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its position in Mettler-Toledo International shares by 22.1%, resulting in ownership of 1,046 shares valued at approximately $1.235 million.
• Mettler-Toledo International reported earnings of $10.09 per share for the quarter, exceeding estimates, with quarterly revenue reaching $983.22 million.
• The stock is currently priced at $1,220.96, down 1.8%, with a market cap of $25.15 billion and a PE ratio of 30.92.

Commerce Bank trimmed its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,046 shares of the medical instruments supplier's stock after selling 296 shares during the period. Commerce Bank's holdings in Mettler-Toledo International were worth $1,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenleaf Trust grew its holdings in shares of Mettler-Toledo International by 1.2% in the 1st quarter. Greenleaf Trust now owns 872 shares of the medical instruments supplier's stock worth $1,030,000 after purchasing an additional 10 shares during the last quarter. Albion Financial Group UT increased its holdings in Mettler-Toledo International by 1.5% in the first quarter. Albion Financial Group UT now owns 754 shares of the medical instruments supplier's stock valued at $890,000 after purchasing an additional 11 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Mettler-Toledo International by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 627 shares of the medical instruments supplier's stock valued at $740,000 after acquiring an additional 11 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Mettler-Toledo International by 5.4% in the 1st quarter. TD Private Client Wealth LLC now owns 214 shares of the medical instruments supplier's stock valued at $253,000 after acquiring an additional 11 shares during the period. Finally, Congress Asset Management Co. boosted its stake in Mettler-Toledo International by 1.8% during the 1st quarter. Congress Asset Management Co. now owns 667 shares of the medical instruments supplier's stock worth $788,000 after acquiring an additional 12 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Down 1.8%

Shares of NYSE:MTD traded down $22.98 on Wednesday, hitting $1,220.96. 184,758 shares of the company traded hands, compared to its average volume of 172,926. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,521.01. The stock has a 50 day simple moving average of $1,197.57 and a 200-day simple moving average of $1,192.45. The company has a market cap of $25.15 billion, a PE ratio of 30.92, a PEG ratio of 3.73 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.58 by $0.51. The company had revenue of $983.22 million for the quarter, compared to the consensus estimate of $957.41 million. Mettler-Toledo International had a negative return on equity of 476.07% and a net margin of 21.46%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $9.65 EPS. As a group, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTD. Barclays began coverage on Mettler-Toledo International in a report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price target on the stock. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Robert W. Baird raised their price target on Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a research note on Monday. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price objective for the company from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Finally, Wall Street Zen lowered shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of "Hold" and a consensus price target of $1,288.89.

Insider Buying and Selling

In other news, Director Michael A. Kelly sold 1,062 shares of the business's 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 completion of the transaction, the director directly owned 120 shares of the company's stock, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.94% of the stock is owned by insiders.

About Mettler-Toledo International

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.