Vontobel Holding Ltd. decreased its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 94.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375 shares of the medical instruments supplier's stock after selling 6,012 shares during the quarter. Vontobel Holding Ltd.'s holdings in Mettler-Toledo International were worth $443,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Mettler-Toledo International by 39.1% during the 1st quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier's stock worth $103,000 after purchasing an additional 25 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Mettler-Toledo International by 29.4% during the 1st quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier's stock worth $577,000 after purchasing an additional 111 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Mettler-Toledo International by 7.1% during the 1st quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier's stock worth $40,871,000 after purchasing an additional 2,296 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Mettler-Toledo International by 95.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier's stock worth $2,600,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Mettler-Toledo International by 7.3% during the 4th quarter. Royal Bank of Canada now owns 45,756 shares of the medical instruments supplier's stock worth $55,990,000 after purchasing an additional 3,105 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.
Mettler-Toledo International Stock Down 1.7%
MTD stock opened at $1,188.28 on Tuesday. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 3.72 and a beta of 1.37. The business has a fifty day simple moving average of $1,153.37 and a 200-day simple moving average of $1,195.52. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93.
Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The firm had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. During the same period in the prior year, the firm earned $8.89 EPS. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. As a group, analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on MTD shares. Bank of America lifted 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. Wall Street Zen downgraded Mettler-Toledo International from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Jefferies Financial Group upgraded Mettler-Toledo International from an "underperform" rating to a "hold" rating and cut their price target for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. UBS Group upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and cut their price target for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Finally, Robert W. Baird cut their price target on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $1,300.36.
Read Our Latest Report on MTD
Insiders Place Their Bets
In other Mettler-Toledo International 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 completion of the transaction, the director directly owned 120 shares of the company's stock, valued at $139,191.60. This represents a 89.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.94% of the stock is currently owned by insiders.
About Mettler-Toledo International
(
Free Report)
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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