Mettler-Toledo International, Inc. (NYSE:MTD) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Mettler-Toledo International, Inc. by 20.9% in the first quarter, selling 1,108 shares and now holding 4,199 shares valued at approximately $4.94 million.
• Institutional investors collectively own 95.07% of Mettler-Toledo's stock, with several large firms like Alliancebernstein and T. Rowe Price increasing their holdings significantly in recent quarters.
• Analysts have mixed ratings for Mettler-Toledo, with a consensus of "Hold" and a target price around $1,280.90, despite varying views from institutions on its stock performance.

Mediolanum International Funds Ltd cut its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,199 shares of the medical instruments supplier's stock after selling 1,108 shares during the quarter. Mediolanum International Funds Ltd's holdings in Mettler-Toledo International were worth $4,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Mettler-Toledo International by 39.1% in 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 during the last quarter. QRG Capital Management Inc. grew its stake in shares of 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 purchasing an additional 111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 purchasing an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 buying an additional 1,073 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in shares of 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 buying an additional 2,296 shares during the period. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mettler-Toledo International

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 $139,191.60. The trade was a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MTD. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Bank of America raised their price target on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and reduced their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Evercore ISI raised their price target on Mettler-Toledo International from $1,200.00 to $1,280.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Robert W. Baird raised their price target on Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the company a "neutral" rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $1,298.50.

Mettler-Toledo International Trading Down 0.0%

Shares of NYSE MTD traded down $0.37 during trading on Thursday, reaching $1,265.54. The company had a trading volume of 122,996 shares, compared to its average volume of 174,418. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,546.93. The stock has a market capitalization of $26.30 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The stock has a 50-day moving average price of $1,189.96 and a two-hundred day moving average price of $1,194.60.

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

Mettler-Toledo International Company 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.