Mettler-Toledo International, Inc. (NYSE:MTD) Stake Trimmed by Canoe Financial LP

Canoe Financial LP lowered its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,018 shares of the medical instruments supplier's stock after selling 3,500 shares during the period. Canoe Financial LP owned approximately 0.25% of Mettler-Toledo International worth $61,429,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Abundance Wealth Counselors grew its position in shares of Mettler-Toledo International by 8.9% during the first quarter. Abundance Wealth Counselors now owns 736 shares of the medical instruments supplier's stock worth $880,000 after buying an additional 60 shares in the last quarter. Blue Trust Inc. increased its position in shares of Mettler-Toledo International by 520.0% in the 1st quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier's stock worth $73,000 after purchasing an additional 52 shares during the last quarter. Boston Trust Walden Corp raised its stake 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 purchasing an additional 2,296 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Mettler-Toledo International by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 2,449 shares of the medical instruments supplier's stock worth $2,892,000 after purchasing an additional 40 shares during the last quarter. Finally, Crown Oak Advisors LLC grew its stake in Mettler-Toledo International by 5.3% in the first quarter. Crown Oak Advisors LLC now owns 5,942 shares of the medical instruments supplier's stock worth $7,017,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Insider Activity at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was 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 now owns 120 shares of the company's stock, valued at $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.77% of the company's stock.

Mettler-Toledo International Stock Performance

Shares of MTD traded up $22.99 during mid-day trading on Tuesday, reaching $1,186.60. 129,637 shares of the company's stock traded hands, compared to its average volume of 152,015. The business's 50-day moving average price is $1,120.21 and its 200-day moving average price is $1,199.56. The stock has a market capitalization of $24.66 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.42 and a beta of 1.38. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $876.61 million. During the same quarter in the previous year, the firm posted $8.89 EPS. The firm's quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Analyst Ratings Changes

MTD has been the topic of a number of research analyst reports. UBS Group raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research note on Monday, April 7th. 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 dropped their target price for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Finally, Barclays began coverage on shares of Mettler-Toledo International in a report on Tuesday. They issued an "overweight" rating and a $1,325.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International presently has a consensus rating of "Hold" and an average target price of $1,304.40.

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.