Raiffeisen Bank International AG Sells 748 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Raiffeisen Bank International AG reduced its stake in Mettler-Toledo International by 3.0%, owning 24,486 shares valued at approximately $28.8 million after selling 748 shares in the first quarter.
• Several institutional investors are increasing their positions in Mettler-Toledo, with Golden State Wealth Management LLC boosting their stake by 583.3% in the same period.
• Mettler-Toledo reported strong earnings growth, with $10.09 EPS for the quarter, exceeding analyst expectations and showing a revenue increase of 3.9% year-over-year.

Raiffeisen Bank International AG decreased its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,486 shares of the medical instruments supplier's stock after selling 748 shares during the quarter. Raiffeisen Bank International AG owned 0.12% of Mettler-Toledo International worth $28,822,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in shares of Mettler-Toledo International by 200.0% in the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 600 shares of the medical instruments supplier's stock valued at $709,000 after buying an additional 400 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Mettler-Toledo International by 6.1% during the first quarter. Jupiter Asset Management Ltd. now owns 33,875 shares of the medical instruments supplier's stock worth $40,003,000 after purchasing an additional 1,958 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in Mettler-Toledo International during the first quarter worth $257,000. Blueshift Asset Management LLC acquired a new stake in shares of Mettler-Toledo International in the 1st quarter valued at $748,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of Mettler-Toledo International by 42.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 12,057 shares of the medical instruments supplier's stock valued at $14,238,000 after purchasing an additional 3,590 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 in the company, valued at $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Mettler-Toledo International stock traded down $4.16 during trading on Tuesday, hitting $1,227.72. The company's stock had a trading volume of 25,452 shares, compared to its average volume of 175,616. The stock has a market cap of $25.52 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 3.64 and a beta of 1.34. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,521.01. The stock has a 50-day moving average price of $1,195.92 and a two-hundred day moving average price of $1,192.09.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. During the same period last year, the company earned $9.65 earnings per share. The firm's revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MTD shares. Evercore ISI dropped their price objective 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. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target on the stock in a report on Monday, April 7th. Robert W. Baird increased their price objective on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a research note on Monday. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their target price for the stock from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Finally, UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $1,300.00.

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.