KLP Kapitalforvaltning AS Sells 4,900 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

KLP Kapitalforvaltning AS reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 31.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,683 shares of the medical instruments supplier's stock after selling 4,900 shares during the quarter. KLP Kapitalforvaltning AS owned 0.05% of Mettler-Toledo International worth $12,616,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Choreo LLC raised its stake in Mettler-Toledo International by 5.0% during the first quarter. Choreo LLC now owns 543 shares of the medical instruments supplier's stock worth $641,000 after acquiring an additional 26 shares in the last quarter. OneAscent Wealth Management LLC acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at $224,000. Gallacher Capital Management LLC acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at $301,000. Sargent Investment Group LLC acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at $549,000. Finally, Lindbrook Capital LLC increased its stake in shares of Mettler-Toledo International by 44.4% in the first quarter. Lindbrook Capital LLC now owns 143 shares of the medical instruments supplier's stock valued at $169,000 after buying an additional 44 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International 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 sale, the director owned 120 shares of the company's stock, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.94% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTD shares. Wall Street Zen lowered Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Bank of America raised their target price on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Barclays started coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price objective for the company. Robert W. Baird lowered 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 report on Tuesday, April 22nd. Finally, UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $1,280.90.

Mettler-Toledo International Trading Up 0.3%

Shares of NYSE:MTD traded up $3.22 during trading on Friday, hitting $1,263.97. 155,612 shares of the company's stock traded hands, compared to its average volume of 175,277. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 3.86 and a beta of 1.37. The company has a 50-day moving average price of $1,181.58 and a 200-day moving average price of $1,193.94.

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 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $883.74 million for the quarter, compared to analysts' expectations of $876.61 million. During the same quarter in the previous year, the business posted $8.89 EPS. Mettler-Toledo International's revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share 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.