Mettler-Toledo International, Inc. $MTD Stock Sold by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management reduced its Mettler-Toledo position by 2.7%, selling 8,818 shares and retaining 317,302 shares worth approximately $479.4 million. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly EPS of $11.46, exceeding estimates of $10.78, while revenue rose 4.5% year over year to $1.03 billion. The stock opened at $1,619.63, near its 52-week high of $1,659.70.
• Analysts maintain a consensus “Hold” rating with an average price target of $1,469.15, below the reported share price; insiders have also sold 4,254 shares worth roughly $6.1 million over the past 90 days.

PineStone Asset Management Inc. lowered its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,302 shares of the medical instruments supplier's stock after selling 8,818 shares during the quarter. Mettler-Toledo International accounts for about 3.2% of PineStone Asset Management Inc.'s holdings, making the stock its 12th largest position. PineStone Asset Management Inc. owned 1.58% of Mettler-Toledo International worth $479,427,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC increased its position in shares of Mettler-Toledo International by 3.4% during the third quarter. V Square Quantitative Management LLC now owns 645 shares of the medical instruments supplier's stock valued at $975,000 after purchasing an additional 21 shares during the period. Assenagon Asset Management S.A. lifted its position in Mettler-Toledo International by 48.5% in the third quarter. Assenagon Asset Management S.A. now owns 49,900 shares of the medical instruments supplier's stock worth $75,396,000 after purchasing an additional 16,292 shares during the period. Baldwin Wealth Partners LLC MA acquired a new stake in Mettler-Toledo International during the third quarter worth $230,000. Wedmont Private Capital acquired a new stake in Mettler-Toledo International during the third quarter worth $457,000. Finally, GAMMA Investing LLC increased its holdings in Mettler-Toledo International by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 647 shares of the medical instruments supplier's stock valued at $978,000 after buying an additional 42 shares during the period. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,619.63 on Friday. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The company has a market capitalization of $32.46 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 3.27 and a beta of 1.19. Mettler-Toledo International, Inc. has a one year low of $1,023.05 and a one year high of $1,659.70. The business has a 50 day simple moving average of $1,442.37 and a 200 day simple moving average of $1,314.00.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, beating the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $10.09 EPS. Mettler-Toledo International's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Mettler-Toledo International, Inc. will post 47.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MTD shares. Morgan Stanley increased their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 13th. Royal Bank Of Canada assumed coverage on shares of Mettler-Toledo International in a report on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price objective for the company. Rothschild & Co Redburn began coverage on shares of Mettler-Toledo International in a research report on Wednesday, September 2nd. They set a "sell" rating and a $1,200.00 target price on the stock. UBS Group began coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $1,460.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $1,469.15.

Insider Activity

In related news, insider Gerry Keller sold 240 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the sale, the insider owned 259 shares in the company, valued at $369,629.26. This trade represents a 48.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares of the company's stock, valued at $6,384,000. This represents a 17.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,254 shares of company stock worth $6,092,712 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company's solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.

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