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

Canoe Financial LP lowered its position in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 about 0.25% of Mettler-Toledo International worth $61,429,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Mettler-Toledo International in the fourth quarter worth about $33,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth about $44,000. Whipplewood Advisors LLC acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth about $54,000. Menard Financial Group LLC acquired a new position in shares of Mettler-Toledo International during the 4th quarter worth about $67,000. Finally, Blue Trust Inc. raised its position in shares of Mettler-Toledo International by 520.0% during 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. 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 company's stock in a transaction that occurred 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 transaction, the director now directly owns 120 shares in the company, valued at approximately $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MTD. Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and reduced their price target for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a research report on Monday, April 7th. Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird reduced their price target 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 report on Tuesday, April 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1,302.11.

Mettler-Toledo International Trading Up 0.8%

Shares of NYSE MTD opened at $1,154.80 on Friday. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,546.93. The stock has a market cap of $24.00 billion, a PE ratio of 28.80, a P/E/G ratio of 3.39 and a beta of 1.38. The company has a 50-day moving average of $1,118.58 and a 200 day moving average of $1,200.97.

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 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 quarter last year, the firm earned $8.89 EPS. The business's revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal 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.

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