Kornitzer Capital Management Inc. KS trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 29.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 29,690 shares of the medical instruments supplier’s stock after selling 12,571 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mettler-Toledo International were worth $24,940,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Mettler-Toledo International in the first quarter worth about $253,000. Marshall Wace LLP lifted its holdings in shares of Mettler-Toledo International by 21,807.4% in the first quarter. Marshall Wace LLP now owns 14,897 shares of the medical instruments supplier’s stock worth $10,771,000 after buying an additional 14,829 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Mettler-Toledo International by 11.3% in the first quarter. Gulf International Bank UK Ltd now owns 6,337 shares of the medical instruments supplier’s stock worth $4,581,000 after buying an additional 641 shares in the last quarter. Tiemann Investment Advisors LLC purchased a new stake in Mettler-Toledo International in the first quarter valued at approximately $217,000. Finally, Northeast Financial Consultants Inc purchased a new stake in Mettler-Toledo International in the first quarter valued at approximately $1,797,000. 96.46% of the stock is currently owned by hedge funds and other institutional investors.
In other Mettler-Toledo International news, insider La Guerroniere Marc De sold 4,600 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $730.00, for a total transaction of $3,358,000.00. Following the transaction, the insider now directly owns 16,585 shares in the company, valued at $12,107,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wah-Hui Chu sold 300 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $740.00, for a total transaction of $222,000.00. Following the transaction, the director now owns 3,154 shares in the company, valued at $2,333,960. The disclosure for this sale can be found here. Insiders have sold 48,225 shares of company stock worth $35,146,228 over the last quarter. Company insiders own 3.50% of the company’s stock.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.07. The business had revenue of $731.00 million for the quarter, compared to the consensus estimate of $736.23 million. Mettler-Toledo International had a net margin of 18.45% and a return on equity of 98.65%. Mettler-Toledo International’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. On average, equities analysts expect that Mettler-Toledo International Inc. will post 22.71 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on MTD shares. Zacks Investment Research downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating and set a $811.00 target price on the stock. in a research note on Friday, June 7th. Barclays downgraded shares of Mettler-Toledo International from an “equal weight” rating to an “underweight” rating and set a $680.00 target price on the stock. in a research note on Monday, July 15th. Bank of America reaffirmed a “neutral” rating and issued a $755.00 target price (up from $725.00) on shares of Mettler-Toledo International in a research note on Tuesday, April 16th. ValuEngine downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Wolfe Research started coverage on shares of Mettler-Toledo International in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Mettler-Toledo International has a consensus rating of “Hold” and an average price target of $688.60.
Mettler-Toledo International Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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