Pacer Advisors Inc. Sells 2,556 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Pacer Advisors Inc. cut its holdings in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 55.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,013 shares of the medical instruments supplier's stock after selling 2,556 shares during the quarter. Pacer Advisors Inc.'s holdings in Mettler-Toledo International were worth $2,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTD. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Mettler-Toledo International during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC increased its stake in shares of Mettler-Toledo International by 583.3% in the 1st quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier's stock valued at $48,000 after acquiring an additional 35 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Mettler-Toledo International in the 4th quarter valued at approximately $67,000. Blue Trust Inc. raised 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 valued at $73,000 after acquiring an additional 52 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of 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 acquiring an additional 25 shares during the period. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTD has been the topic of a number of analyst reports. Evercore ISI increased their price target on shares of Mettler-Toledo International from $1,200.00 to $1,280.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Robert W. Baird upped their price target on shares of Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the company a "neutral" rating in a report on Monday. Barclays started coverage on shares of Mettler-Toledo International in a report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price target for the company. Finally, UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $1,298.50.

Insider Activity

In other news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction on 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 sale, the director directly owned 120 shares of the company's stock, 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 can be accessed through this hyperlink. Company insiders own 1.94% of the company's stock.

Mettler-Toledo International Stock Up 0.0%

Shares of NYSE:MTD traded up $0.01 during midday trading on Wednesday, hitting $1,266.11. The stock had a trading volume of 168,899 shares, compared to its average volume of 140,275. The company has a market cap of $26.31 billion, a P/E ratio of 31.57, a PEG ratio of 3.89 and a beta of 1.37. The business's 50-day simple moving average is $1,187.29 and its 200-day simple moving average is $1,194.11. 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, 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 during the quarter, compared to the consensus estimate of $876.61 million. During the same quarter last year, the firm posted $8.89 EPS. The company's quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

About Mettler-Toledo International

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.