Harvey Investment Co. LLC Has $15.89 Million Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Harvey Investment Co. LLC cut its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,454 shares of the medical instruments supplier's stock after selling 759 shares during the period. Mettler-Toledo International comprises about 1.8% of Harvey Investment Co. LLC's portfolio, making the stock its 20th biggest position. Harvey Investment Co. LLC owned about 0.06% of Mettler-Toledo International worth $15,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 25 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Mettler-Toledo International by 29.4% in the first 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 period. Allworth Financial LP grew its position in Mettler-Toledo International by 367.4% during the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier's stock valued at $285,000 after acquiring an additional 169 shares during the period. Royal Bank of Canada increased its holdings in Mettler-Toledo International by 7.3% in the 4th quarter. Royal Bank of Canada now owns 45,756 shares of the medical instruments supplier's stock valued at $55,990,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Mettler-Toledo International by 5.8% in the 4th quarter. Impax Asset Management Group plc now owns 198,852 shares of the medical instruments supplier's stock worth $243,331,000 after acquiring an additional 10,830 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Analyst Upgrades and Downgrades

MTD has been the topic of several research reports. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Barclays assumed coverage on Mettler-Toledo International in a research note on Tuesday. They set an "overweight" rating and a $1,325.00 target price on the stock. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their target price for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price for the company in a research note on Monday, April 7th. Finally, Robert W. Baird cut their price objective on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $1,304.40.

Mettler-Toledo International Price Performance

MTD stock traded up $10.68 on Wednesday, reaching $1,195.86. 143,314 shares of the company were exchanged, compared to its average volume of 152,311. The stock's fifty day moving average price is $1,123.01 and its 200 day moving average price is $1,199.47. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,546.93. The firm has a market capitalization of $24.85 billion, a PE ratio of 29.82, a PEG ratio of 3.51 and a beta of 1.38.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, topping analysts' consensus estimates of $7.90 by $0.29. The company had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $8.89 EPS. As a group, research analysts expect that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of the company'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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.94% of the stock is currently owned by insiders.

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.