Pinebridge Investments L.P. Sells 4,052 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Pinebridge Investments L.P. trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 37.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,814 shares of the medical instruments supplier's stock after selling 4,052 shares during the quarter. Pinebridge Investments L.P.'s holdings in Mettler-Toledo International were worth $8,338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MTD. Norges Bank purchased a new position in Mettler-Toledo International during the 4th quarter valued at approximately $372,954,000. Proficio Capital Partners LLC purchased a new position in shares of Mettler-Toledo International in the fourth quarter valued at $163,216,000. Massachusetts Financial Services Co. MA increased its position in 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 purchasing an additional 74,187 shares during the last quarter. Seilern Investment Management Ltd purchased a new stake in Mettler-Toledo International during the fourth quarter valued at $89,221,000. Finally, AustralianSuper Pty Ltd lifted its position in Mettler-Toledo International by 3,183.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 71,673 shares of the medical instruments supplier's stock valued at $87,705,000 after purchasing an additional 69,490 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christian Magloth sold 790 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were 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 of the company's stock, valued at $964,248.46. The trade was a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gerry Keller sold 600 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the sale, the insider now directly owns 6 shares in the company, valued at $8,108.04. This trade represents a 99.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MTD shares. Wells Fargo & Company reduced their target price on shares of Mettler-Toledo International from $1,400.00 to $1,125.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Citigroup raised Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research note on Monday, April 7th. Evercore ISI raised their price objective on 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. Finally, Robert W. Baird dropped their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1,304.25.

Mettler-Toledo International Trading Down 0.8 %

Shares of NYSE MTD traded down $8.63 during midday trading on Wednesday, hitting $1,056.60. The company's stock had a trading volume of 36,853 shares, compared to its average volume of 143,557. Mettler-Toledo International Inc. has a 12-month low of $946.69 and a 12-month high of $1,546.93. The firm has a market cap of $22.02 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.30 and a beta of 1.28. The business's 50 day moving average is $1,150.43 and its two-hundred day moving average is $1,239.91.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. On average, analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal 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.