Massachusetts Financial Services Co. MA Reduces Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,191 shares of the medical instruments supplier's stock after selling 5,090 shares during the period. Massachusetts Financial Services Co. MA owned 1.00% of Mettler-Toledo International worth $247,036,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock worth $456,018,000 after buying an additional 385,864 shares during the last quarter. Norges Bank bought a new position in Mettler-Toledo International during the fourth quarter worth $372,954,000. T. Rowe Price Investment Management Inc. raised its stake in Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock worth $444,327,000 after buying an additional 96,300 shares during the last quarter. Alliancebernstein L.P. raised its stake in Mettler-Toledo International by 9.9% during the fourth quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier's stock worth $713,627,000 after buying an additional 52,726 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Mettler-Toledo International by 23.6% during the fourth quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock worth $308,006,000 after buying an additional 48,027 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded down $10.01 during midday trading on Friday, hitting $1,195.68. 21,876 shares of the company's stock were exchanged, compared to its average volume of 150,755. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93. The company has a market cap of $24.85 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. The stock has a 50 day moving average price of $1,173.50 and a 200-day moving average price of $1,194.29.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The business had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. During the same period in the prior year, the firm posted $8.89 EPS. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTD. Barclays began coverage on shares of Mettler-Toledo International in a research note on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 target price for the company. Robert W. Baird lowered their target price on shares of 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. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price target for the company from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Evercore ISI lifted their price target 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. Finally, UBS Group raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $1,280.90.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 120 shares of the company's stock, valued at approximately $139,191.60. This represents a 89.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.94% of the company's stock.

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.