Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 3.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262 shares of the medical instruments supplier’s stock after selling 8 shares during the period. Pitcairn Co.’s holdings in Mettler-Toledo International were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTD. Bank of New York Mellon Corp raised its holdings in Mettler-Toledo International by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock worth $763,764,000 after purchasing an additional 360,786 shares in the last quarter. Norges Bank bought a new stake in Mettler-Toledo International during the fourth quarter worth approximately $320,847,000. Principal Financial Group Inc. grew its position in Mettler-Toledo International by 65.4% in the fourth quarter. Principal Financial Group Inc. now owns 241,219 shares of the medical instruments supplier’s stock worth $292,589,000 after buying an additional 95,421 shares during the last quarter. International Assets Investment Management LLC grew its position in Mettler-Toledo International by 109,458.1% in the fourth quarter. International Assets Investment Management LLC now owns 67,926 shares of the medical instruments supplier’s stock worth $82,392,000 after buying an additional 67,864 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in Mettler-Toledo International by 854.0% in the fourth quarter. Corient Private Wealth LLC now owns 74,707 shares of the medical instruments supplier’s stock worth $90,617,000 after buying an additional 66,876 shares during the last quarter. Institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD traded up $26.44 during mid-day trading on Thursday, reaching $1,411.00. The company had a trading volume of 179,690 shares, compared to its average volume of 144,147. Mettler-Toledo International Inc. has a twelve month low of $928.49 and a twelve month high of $1,535.86. The stock has a market capitalization of $30.14 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 3.65 and a beta of 1.17. The stock’s 50 day moving average is $1,419.26 and its 200-day moving average is $1,313.29.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. The business had revenue of $925.95 million for the quarter, compared to the consensus estimate of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. Mettler-Toledo International’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $8.69 earnings per share. On average, sell-side analysts anticipate that Mettler-Toledo International Inc. will post 40.13 EPS for the current year.

Insider Buying and Selling

In related news, CFO Shawn Vadala sold 300 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the sale, the chief financial officer now directly owns 4,914 shares in the company, valued at $7,160,041.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mettler-Toledo International news, insider Gerry Keller sold 310 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $1,511.56, for a total transaction of $468,583.60. Following the completion of the sale, the insider now directly owns 6 shares in the company, valued at $9,069.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shawn Vadala sold 300 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,278 shares of company stock worth $4,871,849. Corporate insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MTD shares. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Jefferies Financial Group restated an “underperform” rating and issued a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Evercore ISI lifted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus boosted their target price on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Robert W. Baird boosted their target price on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,301.25.

Mettler-Toledo International Company Profile

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.