HighTower Advisors LLC Trims Holdings in Mettler-Toledo International, Inc. $MTD

Key Points

• HighTower Advisors cut its Mettler-Toledo stake by 14.9% in the second quarter, selling 5,055 shares and retaining 28,896 shares valued at approximately $36.9 million. Institutional investors and hedge funds collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly earnings of $11.46 per share, beating estimates of $10.78, while revenue reached $1.03 billion and increased 4.5% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1,445.31. Meanwhile, company insiders sold 4,254 shares worth about $6.1 million over the past 90 days.

HighTower Advisors LLC lowered its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,896 shares of the medical instruments supplier's stock after selling 5,055 shares during the period. HighTower Advisors LLC owned 0.14% of Mettler-Toledo International worth $36,914,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Reflection Asset Management acquired a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Mettler-Toledo International during the 1st quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Mettler-Toledo International during the 2nd quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in Mettler-Toledo International during the 4th quarter worth approximately $29,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Mettler-Toledo International in the 2nd quarter valued at approximately $32,000. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Down 1.5%

Mettler-Toledo International stock opened at $1,325.47 on Wednesday. The stock's 50 day moving average price is $1,364.27 and its 200 day moving average price is $1,273.69. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,525.17. The company has a market cap of $26.56 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, beating analysts' consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $10.09 earnings per share. On average, sell-side analysts predict that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Analysts Set New Price Targets

MTD has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Wolfe Research started coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Barclays boosted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Rothschild & Co Redburn began coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 2nd. They issued a "sell" rating and a $1,200.00 target price for the company. Finally, Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $1,445.31.

Insider Activity at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the completion of the sale, the chief financial officer directly owned 5,579 shares in the company, valued at approximately $7,989,128. This trade represents a 28.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Kaltenbach sold 942 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the sale, the chief executive officer directly owned 4,480 shares in the company, valued at $6,384,000. This trade represents a 17.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,254 shares of company stock worth $6,092,712 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

Mettler-Toledo International Profile

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company's product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.

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