Congress Asset Management Co. MA reduced its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,253 shares of the medical instruments supplier’s stock after selling 6,070 shares during the period. Mettler-Toledo International accounts for 1.2% of Congress Asset Management Co. MA’s portfolio, making the stock its 24th largest position. Congress Asset Management Co. MA’s holdings in Mettler-Toledo International were worth $136,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC bought a new position in Mettler-Toledo International in the fourth quarter worth about $34,000. Graves Light Private Wealth Management Inc. bought a new position in Mettler-Toledo International in the fourth quarter worth about $34,000. Alpha Paradigm Partners LLC bought a new position in Mettler-Toledo International in the fourth quarter worth about $43,000. Childress Capital Advisors LLC bought a new position in Mettler-Toledo International in the fourth quarter worth about $49,000. Finally, Penserra Capital Management LLC raised its stake in Mettler-Toledo International by 44.1% in the fourth quarter. Penserra Capital Management LLC now owns 49 shares of the medical instruments supplier’s stock worth $55,000 after buying an additional 15 shares in the last quarter. 93.18% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on MTD shares. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $1,255.00 target price for the company in a research note on Tuesday, February 9th. Wells Fargo & Company raised their price target on shares of Mettler-Toledo International from $1,100.00 to $1,300.00 and gave the company an “equal weight” rating in a research report on Friday, February 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Mettler-Toledo International presently has a consensus rating of “Hold” and an average target price of $1,077.86.
Shares of MTD stock opened at $1,274.65 on Monday. Mettler-Toledo International Inc. has a 12-month low of $678.85 and a 12-month high of $1,339.38. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 2.64. The firm’s 50 day moving average is $1,249.00 and its 200 day moving average is $1,172.50. The stock has a market capitalization of $29.66 billion, a P/E ratio of 53.62, a P/E/G ratio of 3.58 and a beta of 1.04.
Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, May 6th. The medical instruments supplier reported $6.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.61 by $0.95. Mettler-Toledo International had a net margin of 19.36% and a return on equity of 144.89%. The company had revenue of $804.39 million for the quarter, compared to analysts’ expectations of $753.89 million. During the same quarter last year, the company posted $4.00 earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities analysts predict that Mettler-Toledo International Inc. will post 25 earnings per share for the current year.
About Mettler-Toledo International
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and 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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