NorthRock Partners LLC Cuts Stock Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• NorthRock Partners LLC reduced its stake in Mettler-Toledo International by 51%, selling 237 shares, and now owns 228 shares valued at $269,000.
• In the first quarter, other hedge funds have significantly increased their positions in Mettler-Toledo, with Golden State Wealth Management raising its stake by 583.3% to 41 shares.
• Mettler-Toledo reported an EPS of $10.09 for the last quarter, exceeding analysts' expectations of $9.58, along with a revenue increase of 3.9% year-over-year.

NorthRock Partners LLC cut its holdings in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 51.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228 shares of the medical instruments supplier's stock after selling 237 shares during the quarter. NorthRock Partners LLC's holdings in Mettler-Toledo International were worth $269,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its position in Mettler-Toledo International by 583.3% in the first quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier's stock valued at $48,000 after purchasing an additional 35 shares during the last quarter. Menard Financial Group LLC bought a new position in Mettler-Toledo International in the fourth quarter valued at about $67,000. Blue Trust Inc. raised its position in Mettler-Toledo International by 520.0% in the first quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier's stock valued at $73,000 after purchasing an additional 52 shares during the last quarter. Farther Finance Advisors LLC raised its position in Mettler-Toledo International by 39.1% in the first quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock valued at $103,000 after purchasing an additional 25 shares during the last quarter. Finally, Huntington National Bank raised its position in Mettler-Toledo International by 63.0% in the fourth quarter. Huntington National Bank now owns 88 shares of the medical instruments supplier's stock valued at $108,000 after purchasing an additional 34 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTD has been the subject of several research reports. Evercore ISI dropped their target price on Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating for the company in a research report on Monday. Wells Fargo & Company raised their price objective on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. 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. Bank of America raised their price objective on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and lowered their price objective for the stock from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $1,300.00.

Mettler-Toledo International Trading Up 1.0%

MTD stock traded up $12.38 during mid-day trading on Tuesday, reaching $1,244.26. The company's stock had a trading volume of 148,284 shares, compared to its average volume of 176,461. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 3.64 and a beta of 1.34. The business's 50 day moving average price is $1,195.92 and its 200 day moving average price is $1,192.09. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,521.01.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, beating analysts' consensus estimates of $9.58 by $0.51. Mettler-Toledo International had a negative return on equity of 476.07% and a net margin of 21.46%. The firm had revenue of $983.22 million during the quarter, compared to analysts' expectations of $957.41 million. During the same quarter last year, the firm posted $9.65 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were 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 in the company, valued at $139,191.60. This represents a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.94% of the stock is owned by corporate insiders.

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.