Mettler-Toledo International, Inc. (NYSE:MTD) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC decreased its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,454 shares of the medical instruments supplier's stock after selling 759 shares during the quarter. Mettler-Toledo International comprises 1.8% of Harvey Investment Co. LLC's holdings, making the stock its 20th largest holding. Harvey Investment Co. LLC owned approximately 0.06% of Mettler-Toledo International worth $15,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Mettler-Toledo International by 14.3% during the fourth quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock worth $78,000 after acquiring an additional 8 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Mettler-Toledo International by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 306 shares of the medical instruments supplier's stock worth $374,000 after acquiring an additional 9 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in Mettler-Toledo International by 0.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 2,083 shares of the medical instruments supplier's stock worth $2,549,000 after acquiring an additional 10 shares during the last quarter. Congress Asset Management Co. increased its stake in Mettler-Toledo International by 1.8% during the first quarter. Congress Asset Management Co. now owns 667 shares of the medical instruments supplier's stock worth $788,000 after acquiring an additional 12 shares during the last quarter. Finally, Torray Investment Partners LLC boosted its position in shares of Mettler-Toledo International by 1.0% during the fourth quarter. Torray Investment Partners LLC now owns 1,356 shares of the medical instruments supplier's stock worth $1,659,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Insiders Place Their Bets

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International 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 sale, the director now directly owns 120 shares of the company's stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.94% of the stock is owned by company insiders.

Mettler-Toledo International Trading Up 0.8%

NYSE:MTD opened at $1,154.80 on Friday. The firm has a market cap of $24.00 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.38. The stock has a fifty day moving average price of $1,118.58 and a 200 day moving average price of $1,200.54. 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. 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 negative return on equity of 556.22% and a net margin of 22.17%. Mettler-Toledo International's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $8.89 EPS. Equities analysts forecast that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird dropped their price objective on 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. UBS Group raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Citigroup raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective for the company in a research note on Monday, April 7th. Finally, Jefferies Financial Group raised Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price objective for the company from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $1,302.11.

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.

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