Prudential PLC Sells 453 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• Prudential PLC reduced its stake in Mettler-Toledo International by 13.4%, owning 2,939 shares valued at approximately $3.47 million after selling 453 shares in the first quarter.
• Mettler-Toledo International reported a quarterly earnings per share (EPS) of $10.09, surpassing analysts' expectations and showing a 3.9% increase in revenue compared to the same quarter last year.
• Insider activities included CFO Shawn Vadala selling 300 shares for around $376,227, while director Michael A. Kelly decreased his stake significantly by selling 1,062 shares.

Prudential PLC lessened its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,939 shares of the medical instruments supplier's stock after selling 453 shares during the quarter. Prudential PLC's holdings in Mettler-Toledo International were worth $3,471,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock worth $456,018,000 after purchasing an additional 385,864 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock valued at $444,327,000 after purchasing an additional 96,300 shares during the last quarter. Nuveen LLC bought a new stake in shares of Mettler-Toledo International in the 1st quarter worth approximately $71,897,000. Northern Trust Corp grew its position in Mettler-Toledo International by 23.6% in the 4th quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock worth $308,006,000 after purchasing an additional 48,027 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Mettler-Toledo International by 60.4% during the 1st quarter. AustralianSuper Pty Ltd now owns 114,986 shares of the medical instruments supplier's stock valued at $135,788,000 after buying an additional 43,313 shares during the period. 95.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $1,254.09, for a total transaction of $376,227.00. Following the completion of the sale, the chief financial officer owned 5,095 shares in the company, valued at $6,389,588.55. This represents a 5.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,589 shares of company stock worth $3,205,554. Insiders own 0.77% of the company's stock.

Analyst Ratings Changes

MTD has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target 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, August 4th. Robert W. Baird boosted their price target on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a report on Monday, August 4th. UBS Group raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Barclays assumed coverage on Mettler-Toledo International in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 price target for the company. Finally, Bank of America increased their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $1,288.89.

Mettler-Toledo International Stock Performance

Shares of MTD traded up $13.14 during trading hours on Monday, reaching $1,325.48. 68,896 shares of the company traded hands, compared to its average volume of 174,353. The stock's fifty day moving average is $1,215.67 and its 200 day moving average is $1,188.24. Mettler-Toledo International, Inc. has a 1-year low of $946.69 and a 1-year high of $1,521.01. The stock has a market cap of $27.30 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 3.94 and a beta of 1.34.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping the consensus estimate of $9.58 by $0.51. The firm had revenue of $983.22 million during the quarter, compared to analysts' expectations of $957.41 million. Mettler-Toledo International had a negative return on equity of 476.07% and a net margin of 21.46%. Mettler-Toledo International's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $9.65 earnings per share. On average, equities research analysts predict that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

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.