New York State Teachers Retirement System Reduces Stock Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

New York State Teachers Retirement System reduced its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,592 shares of the medical instruments supplier's stock after selling 608 shares during the period. New York State Teachers Retirement System owned 0.09% of Mettler-Toledo International worth $21,955,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its stake in Mettler-Toledo International by 9.1% in the fourth quarter. Jacobi Capital Management LLC now owns 180 shares of the medical instruments supplier's stock valued at $220,000 after buying an additional 15 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Mettler-Toledo International by 43.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 69 shares of the medical instruments supplier's stock valued at $84,000 after acquiring an additional 21 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Mettler-Toledo International by 54.9% during the 4th quarter. Jones Financial Companies Lllp now owns 175 shares of the medical instruments supplier's stock valued at $214,000 after acquiring an additional 62 shares during the period. SBI Securities Co. Ltd. bought a new position in Mettler-Toledo International during the fourth quarter worth $33,000. Finally, Plato Investment Management Ltd grew its holdings in Mettler-Toledo International by 87.2% in the fourth quarter. Plato Investment Management Ltd now owns 1,095 shares of the medical instruments supplier's stock worth $1,345,000 after purchasing an additional 510 shares during the period. 95.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael A. Kelly sold 1,062 shares of the firm's 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 completion of the sale, the director directly owned 120 shares of the company's stock, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $3.43 on Friday, hitting $1,209.08. The stock had a trading volume of 41,859 shares, compared to its average volume of 150,220. The business has a 50 day moving average of $1,147.91 and a 200 day moving average of $1,196.27. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,546.93. The stock has a market cap of $25.13 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 3.71 and a beta of 1.37.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The firm had revenue of $883.74 million during the quarter, compared to analyst estimates of $876.61 million. During the same quarter last year, the business posted $8.89 EPS. The company's revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTD shares. Barclays initiated coverage on shares of Mettler-Toledo International in a report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 price objective on the stock. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price objective for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 target price on the stock in a report on Monday, April 7th. Wells Fargo & Company boosted 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 research note on Monday, May 5th. Finally, UBS Group raised shares of 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. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $1,300.36.

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.