Tidal Investments LLC Cuts Position in Mettler-Toledo International Inc. (NYSE:MTD)

Tidal Investments LLC trimmed its stake in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 92.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,315 shares of the medical instruments supplier's stock after selling 15,092 shares during the quarter. Tidal Investments LLC's holdings in Mettler-Toledo International were worth $1,609,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier's stock valued at $332,634,000 after purchasing an additional 28,478 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 169 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Mettler-Toledo International by 18.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,370 shares of the medical instruments supplier's stock valued at $42,058,000 after purchasing an additional 5,234 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Mettler-Toledo International by 773.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,336 shares of the medical instruments supplier's stock valued at $6,530,000 after purchasing an additional 4,725 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Mettler-Toledo International by 5.8% during the fourth quarter. Impax Asset Management Group plc now owns 198,852 shares of the medical instruments supplier's stock valued at $243,331,000 after purchasing an additional 10,830 shares in the last quarter. 95.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on 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 reduced 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. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Citigroup upgraded 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 report on Monday, April 7th. Finally, Evercore ISI upped their price objective on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Mettler-Toledo International currently has an average rating of "Hold" and a consensus price target of $1,302.11.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded up $7.75 during trading on Thursday, hitting $1,165.25. 35,675 shares of the company's stock were exchanged, compared to its average volume of 149,653. Mettler-Toledo International Inc. has a 52-week low of $946.69 and a 52-week high of $1,546.93. The business's 50-day simple moving average is $1,095.35 and its 200 day simple moving average is $1,207.36. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 3.30 and a beta of 1.40.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The firm had revenue of $883.74 million during the quarter, compared to analysts' expectations of $876.61 million. During the same quarter last year, the business posted $8.89 earnings per share. The firm's revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts anticipate 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.