Adage Capital Partners GP L.L.C. Lowers Position in Mettler-Toledo International Inc. (NYSE:MTD)

Adage Capital Partners GP L.L.C. lowered its stake in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 59.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,757 shares of the medical instruments supplier's stock after selling 29,200 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Mettler-Toledo International worth $24,176,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its stake in Mettler-Toledo International by 8.3% in the 3rd quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier's stock valued at $384,822,000 after purchasing an additional 19,609 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Mettler-Toledo International during the third quarter valued at $111,000. Tidal Investments LLC raised its stake in shares of Mettler-Toledo International by 1,073.6% during the third quarter. Tidal Investments LLC now owns 16,407 shares of the medical instruments supplier's stock valued at $24,606,000 after acquiring an additional 15,009 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Mettler-Toledo International during the third quarter valued at $1,164,000. Finally, Retirement Systems of Alabama raised its stake in shares of Mettler-Toledo International by 610.4% during the third quarter. Retirement Systems of Alabama now owns 33,462 shares of the medical instruments supplier's stock valued at $50,183,000 after acquiring an additional 28,752 shares during the last quarter. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Stock Down 0.7 %

NYSE:MTD traded down $7.90 during trading hours on Thursday, reaching $1,062.67. The company had a trading volume of 86,789 shares, compared to its average volume of 144,047. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.30 and a beta of 1.28. The business's 50-day simple moving average is $1,146.09 and its two-hundred day simple moving average is $1,238.73. Mettler-Toledo International Inc. has a twelve month low of $946.69 and a twelve month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. As a group, equities analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on MTD. Evercore ISI raised their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a research note on Monday, April 7th. Wells Fargo & Company decreased their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,125.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Robert W. Baird decreased their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Mettler-Toledo International has an average rating of "Hold" and a consensus target price of $1,304.25.

Insider Activity

In related news, insider Christian Magloth sold 790 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the transaction, the insider now directly owns 734 shares of the company's stock, valued at $964,248.46. This trade represents a 51.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gerry Keller sold 600 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the transaction, the insider now directly owns 6 shares in the company, valued at $8,108.04. The trade was a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

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.