Logan Capital Management Inc. Cuts Position in Mettler-Toledo International Inc. (NYSE:MTD)

Logan Capital Management Inc. reduced its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,205 shares of the medical instruments supplier's stock after selling 1,254 shares during the quarter. Mettler-Toledo International comprises 0.8% of Logan Capital Management Inc.'s investment portfolio, making the stock its 27th biggest position. Logan Capital Management Inc. owned about 0.08% of Mettler-Toledo International worth $19,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MTD. Norges Bank bought a new stake in Mettler-Toledo International during the 4th quarter worth approximately $372,954,000. Proficio Capital Partners LLC purchased a new position in shares of Mettler-Toledo International during the 4th quarter valued at $163,216,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Mettler-Toledo International by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock worth $444,327,000 after purchasing an additional 96,300 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Mettler-Toledo International by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock worth $262,211,000 after buying an additional 74,187 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in Mettler-Toledo International during the fourth quarter valued at $89,221,000. 95.07% of the stock is owned by institutional investors.

Mettler-Toledo International Trading Up 2.5%

MTD stock traded up $27.89 during midday trading on Thursday, hitting $1,145.70. The company had a trading volume of 287,528 shares, compared to its average volume of 146,511. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a 52 week low of $946.69 and a 52 week high of $1,546.93. The stock's 50 day moving average price is $1,111.73 and its 200 day moving average price is $1,220.67.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating analysts' consensus estimates of $7.90 by $0.29. The company had revenue of $883.74 million during the quarter, compared to analyst estimates of $876.61 million. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The firm's revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.89 EPS. Analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MTD has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. StockNews.com lowered shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird reduced their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted 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. Finally, Citigroup upgraded Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective for the company in a report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Mettler-Toledo International currently has an average rating of "Hold" and an average target price of $1,296.13.

Insider Activity

In other news, insider Christian Magloth sold 790 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the transaction, the insider now owns 734 shares in the company, valued at $964,248.46. This trade represents a 51.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.94% of the company's stock.

Mettler-Toledo International Profile

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.