Procyon Advisors LLC Acquires New Position in Mettler-Toledo International Inc. (NYSE:MTD)

Procyon Advisors LLC purchased a new stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 476 shares of the medical instruments supplier's stock, valued at approximately $562,000.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC raised its holdings in shares of Mettler-Toledo International by 936.4% during the first quarter. Whipplewood Advisors LLC now owns 456 shares of the medical instruments supplier's stock valued at $538,000 after purchasing an additional 412 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Mettler-Toledo International during the first quarter valued at approximately $511,000. Harbor Investment Advisory LLC increased its stake in shares of Mettler-Toledo International by 818.2% in the first quarter. Harbor Investment Advisory LLC now owns 101 shares of the medical instruments supplier's stock worth $119,000 after purchasing an additional 90 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Mettler-Toledo International during the 1st quarter valued at $218,000. Finally, Czech National Bank lifted its stake in shares of Mettler-Toledo International by 5.0% during the 1st quarter. Czech National Bank now owns 4,804 shares of the medical instruments supplier's stock valued at $5,673,000 after buying an additional 228 shares in the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction dated 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 now owns 120 shares of the company's stock, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Price Performance

MTD opened at $1,183.88 on Monday. The business's 50-day moving average is $1,092.37 and its two-hundred day moving average is $1,205.15. Mettler-Toledo International Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93. The firm has a market capitalization of $24.60 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 3.30 and a beta of 1.38.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share 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 company had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. During the same period last year, the firm earned $8.89 earnings per share. Mettler-Toledo International's revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTD. Wells Fargo & Company increased their price target on 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. Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a research note on Monday, April 7th. Evercore ISI boosted their target price 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. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price objective for the stock from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Mettler-Toledo International currently has an average rating of "Hold" and an average price target of $1,302.11.

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.

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