Davis R M Inc. Cuts Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Davis R M Inc. reduced its stake in Mettler-Toledo International by 0.5%, now holding 39,096 shares valued at approximately $46.17 million.
• Several institutional investors have recently increased their holdings in Mettler-Toledo, with Geode Capital Management raising its position by 2.0% and GAMMA Investing LLC increasing its stake by an astonishing 131,246.3%.
• Analysts project Mettler-Toledo's stock price targets to range between $1,210.00 and $1,280.00, with a consensus rating of "Hold."

Davis R M Inc. lowered its stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,096 shares of the medical instruments supplier's stock after selling 211 shares during the period. Davis R M Inc. owned approximately 0.19% of Mettler-Toledo International worth $46,169,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Mettler-Toledo International by 39.1% during the 1st quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock valued at $103,000 after acquiring an additional 25 shares in the last quarter. QRG Capital Management Inc. lifted its position in Mettler-Toledo International by 29.4% in the 1st quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier's stock valued at $577,000 after acquiring an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Mettler-Toledo International by 13.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,488 shares of the medical instruments supplier's stock valued at $2,929,000 after acquiring an additional 292 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Mettler-Toledo International by 95.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier's stock valued at $2,600,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in Mettler-Toledo International by 7.1% in the 1st quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier's stock valued at $40,871,000 after acquiring an additional 2,296 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International 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 completion of the sale, the director owned 120 shares in the company, valued at approximately $139,191.60. This represents a 89.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded down $34.91 during midday trading on Friday, hitting $1,198.77. The company had a trading volume of 339,593 shares, compared to its average volume of 155,291. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 3.79 and a beta of 1.37. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,521.01. The company has a fifty day moving average of $1,193.61 and a two-hundred day moving average of $1,193.87.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a negative return on equity of 556.53% and a net margin of 21.46%. The firm had revenue of $983.22 million during the quarter, compared to analyst estimates of $957.41 million. During the same period in the prior year, the business posted $9.65 EPS. Mettler-Toledo International's revenue was up 3.9% on a year-over-year basis. Research analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on MTD. Wells Fargo & Company upped their price objective on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Bank of America upped their price objective on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Barclays began coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price objective on the stock. Robert W. Baird upped their price objective on Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Evercore ISI boosted their target price on shares of Mettler-Toledo International from $1,200.00 to $1,280.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $1,298.50.

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.