Tidal Investments LLC Lowers Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Tidal Investments LLC reduced its holdings in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 92.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Mettler-Toledo International in the 4th quarter worth $33,000. Edmond DE Rothschild Holding S.A. bought a new position in Mettler-Toledo International in the fourth quarter worth about $44,000. Blue Trust Inc. raised its stake in Mettler-Toledo International by 70.8% in the fourth quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier's stock worth $50,000 after buying an additional 17 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Mettler-Toledo International in the fourth quarter worth about $54,000. Finally, Sound Income Strategies LLC boosted its position in Mettler-Toledo International by 4,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier's stock valued at $56,000 after acquiring an additional 45 shares in the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Performance

Shares of NYSE:MTD traded up $47.70 during midday trading on Tuesday, reaching $1,161.84. 162,163 shares of the company's stock traded hands, compared to its average volume of 150,069. Mettler-Toledo International Inc. has a one year low of $946.69 and a one year high of $1,546.93. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 3.30 and a beta of 1.40. The stock has a 50 day moving average of $1,096.96 and a 200 day moving average of $1,208.03.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its 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 net margin of 22.29% and a negative return on equity of 591.54%. 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 prior year, the business earned $8.89 EPS. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. Sell-side analysts predict that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MTD shares. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price target for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Robert W. Baird decreased their price target on shares of 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. Wells Fargo & Company boosted their price objective on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their target price for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Finally, Evercore ISI boosted their price target on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $1,302.11.

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.