Handelsbanken Fonder AB Sells 1,110 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Handelsbanken Fonder AB cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,803 shares of the medical instruments supplier's stock after selling 1,110 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Mettler-Toledo International worth $13,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Mettler-Toledo International in the 4th quarter valued at approximately $33,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Mettler-Toledo International during the 4th quarter valued at approximately $44,000. Whipplewood Advisors LLC bought a new position in Mettler-Toledo International during the 4th quarter worth $54,000. Menard Financial Group LLC bought a new position in Mettler-Toledo International during the 4th quarter worth $67,000. Finally, Farther Finance Advisors LLC grew its stake in Mettler-Toledo International by 14.3% during the 4th quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock worth $78,000 after buying an additional 8 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

Shares of Mettler-Toledo International stock traded down $34.56 during trading on Friday, hitting $1,153.65. The stock had a trading volume of 109,215 shares, compared to its average volume of 151,706. The firm has a market cap of $23.98 billion, a P/E ratio of 28.46, a PEG ratio of 3.30 and a beta of 1.38. The business has a fifty day moving average of $1,105.54 and a two-hundred day moving average of $1,204.23. Mettler-Toledo International Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.29. The firm had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The business's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $8.89 EPS. As a group, research analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction 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 now directly owns 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MTD shares. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. 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 note on Monday, April 7th. Robert W. Baird lowered their price objective on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company increased their price target on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $1,302.11.

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.