Mettler-Toledo International, Inc. (NYSE:MTD) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its holdings in Mettler-Toledo International by 5.1%, owning approximately 0.06% of the company worth $14.04 million after the sale.
• Mettler-Toledo's stock price opened at $1,198.77, with a market cap of $24.91 billion, a P/E ratio of 30.36, and a 1-year price range between $946.69 and $1,521.01.
• In the latest earnings report, Mettler-Toledo International posted an EPS of $10.09, surpassing estimates and achieving a 3.9% increase in revenue year-over-year.

Bank of Nova Scotia decreased its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,893 shares of the medical instruments supplier's stock after selling 634 shares during the quarter. Bank of Nova Scotia owned about 0.06% of Mettler-Toledo International worth $14,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MTD. LPL Financial LLC increased its stake in Mettler-Toledo International by 25.8% during the 4th quarter. LPL Financial LLC now owns 4,646 shares of the medical instruments supplier's stock worth $5,686,000 after buying an additional 953 shares during the period. Huntington National Bank increased its stake in Mettler-Toledo International by 63.0% during the 4th quarter. Huntington National Bank now owns 88 shares of the medical instruments supplier's stock worth $108,000 after buying an additional 34 shares during the period. Pitcairn Co. increased its stake in Mettler-Toledo International by 5.7% during the 4th quarter. Pitcairn Co. now owns 260 shares of the medical instruments supplier's stock worth $318,000 after buying an additional 14 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Mettler-Toledo International during the 4th quarter worth $819,000. Finally, Prudential PLC increased its stake in Mettler-Toledo International by 38.8% during the 4th quarter. Prudential PLC now owns 3,392 shares of the medical instruments supplier's stock worth $4,151,000 after buying an additional 948 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD traded up $12.38 during midday trading on Tuesday, hitting $1,244.26. The company's stock had a trading volume of 148,284 shares, compared to its average volume of 172,646. Mettler-Toledo International, Inc. has a 1-year low of $946.69 and a 1-year high of $1,521.01. The firm's fifty day moving average price is $1,195.92 and its 200-day moving average price is $1,192.09. The firm has a market cap of $25.63 billion, a P/E ratio of 31.51, a P/E/G ratio of 3.70 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, beating the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The business had revenue of $983.22 million during the quarter, compared to analyst estimates of $957.41 million. During the same period in the previous year, the business posted $9.65 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their target price for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Wells Fargo & Company boosted their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Barclays started coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $1,300.00.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company's stock.

About Mettler-Toledo International

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.