Skandinaviska Enskilda Banken AB publ Sells 1,805 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in Mettler-Toledo International by 17.2% during Q1, owning 8,680 shares valued at approximately $10.25 million.
• A significant decrease in insider ownership occurred as Director Michael A. Kelly sold 1,062 shares at an average price of $1,159.93, resulting in an 89.85% decrease in his position.
• Analysts have mixed ratings on Mettler-Toledo International, with some lowering ratings while others have issued "buy" recommendations, reflecting a consensus rating of "Hold".

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,680 shares of the medical instruments supplier's stock after selling 1,805 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Mettler-Toledo International were worth $10,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MTD. GAMMA Investing LLC increased its stake in Mettler-Toledo International by 131,246.3% in the 1st 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. Norges Bank purchased a new position in Mettler-Toledo International during the 4th quarter valued at about $372,954,000. T. Rowe Price Investment Management Inc. grew its stake in Mettler-Toledo International by 36.1% during the 4th 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 acquiring an additional 96,300 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Mettler-Toledo International by 53.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock valued at $262,211,000 after acquiring an additional 74,187 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Mettler-Toledo International by 9.9% during the 4th quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier's stock valued at $713,627,000 after acquiring an additional 52,726 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTD has been the topic of several research analyst reports. Wall Street Zen cut Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Bank of America lifted their price target on Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Robert W. Baird lifted their price target on Mettler-Toledo International from $1,139.00 to $1,210.00 and gave the company a "neutral" rating in a report on Monday. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Finally, 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 report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $1,298.50.

Insider Transactions at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the transaction, the director owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Mettler-Toledo International Stock Down 0.0%

NYSE:MTD traded down $0.04 during trading hours on Wednesday, reaching $1,266.07. The company had a trading volume of 24,688 shares, compared to its average volume of 173,947. The stock has a 50-day moving average of $1,187.29 and a two-hundred day moving average of $1,194.11. Mettler-Toledo International, Inc. has a one year low of $946.69 and a one year high of $1,546.93. The firm has a market capitalization of $26.31 billion, a PE ratio of 31.57, a PEG ratio of 3.88 and a beta of 1.37.

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