Glenmede Trust Co. NA lowered its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD - Get Rating) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,606 shares of the medical instruments supplier's stock after selling 1,526 shares during the period. Glenmede Trust Co. NA owned approximately 0.07% of Mettler-Toledo International worth $15,834,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Bartlett & Co. LLC bought a new stake in Mettler-Toledo International during the 2nd quarter valued at $25,000. Allworth Financial LP bought a new stake in shares of Mettler-Toledo International in the 2nd quarter worth $29,000. Guardian Wealth Advisors LLC bought a new stake in shares of Mettler-Toledo International in the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC raised its stake in shares of Mettler-Toledo International by 250.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 35 shares of the medical instruments supplier's stock worth $38,000 after buying an additional 25 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Mettler-Toledo International in the 2nd quarter worth $48,000. Institutional investors own 91.94% of the company's stock.
Insider Activity
In other news, Director Robert F. Spoerry sold 2,000 shares of Mettler-Toledo International stock in a transaction on Monday, November 7th. The stock was sold at an average price of $1,300.00, for a total transaction of $2,600,000.00. Following the transaction, the director now owns 6,548 shares in the company, valued at $8,512,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert F. Spoerry sold 2,000 shares of Mettler-Toledo International stock in a transaction on Monday, November 7th. The stock was sold at an average price of $1,300.00, for a total transaction of $2,600,000.00. Following the completion of the sale, the director now owns 6,548 shares of the company's stock, valued at $8,512,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Olivier A. Filliol sold 10,252 shares of Mettler-Toledo International stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $1,420.65, for a total value of $14,564,503.80. Following the sale, the director now directly owns 71 shares of the company's stock, valued at approximately $100,866.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,073 shares of company stock worth $52,372,537. 2.80% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently commented on the company. The Goldman Sachs Group raised Mettler-Toledo International from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $1,120.00 to $1,355.00 in a research note on Tuesday, November 8th. StockNews.com raised Mettler-Toledo International from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, January 18th. JPMorgan Chase & Co. upgraded Mettler-Toledo International from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $1,100.00 to $1,350.00 in a report on Monday, December 19th. Wells Fargo & Company lifted their target price on Mettler-Toledo International from $1,410.00 to $1,650.00 and gave the stock an "overweight" rating in a report on Tuesday, January 10th. Finally, Robert W. Baird decreased their target price on Mettler-Toledo International from $1,406.00 to $1,284.00 in a report on Friday, November 4th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mettler-Toledo International has a consensus rating of "Moderate Buy" and an average price target of $1,396.00.
Mettler-Toledo International Stock Down 2.5 %
Shares of MTD stock traded down $38.23 on Wednesday, reaching $1,496.52. 15,596 shares of the company's stock traded hands, compared to its average volume of 89,162. Mettler-Toledo International Inc. has a 12-month low of $1,065.55 and a 12-month high of $1,583.40. The company has a debt-to-equity ratio of 250.82, a quick ratio of 0.74 and a current ratio of 1.13. The company has a market capitalization of $33.36 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.19. The business's 50 day moving average price is $1,468.23 and its two-hundred day moving average price is $1,322.41.
Mettler-Toledo International (NYSE:MTD - Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The medical instruments supplier reported $10.18 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.35. Mettler-Toledo International had a return on equity of 1,929.28% and a net margin of 21.48%. The business had revenue of $985.80 million for the quarter, compared to the consensus estimate of $973.68 million. During the same quarter in the previous year, the company posted $8.72 earnings per share. Mettler-Toledo International's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Mettler-Toledo International Inc. will post 39.02 earnings per share for the current year.
Mettler-Toledo International Company Profile
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Mettler-Toledo International Inc engages in the manufacture and supply of precision instruments and services worldwide. It operates in 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, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, 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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