Cornerstone Advisors LLC Sells 100 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Cornerstone Advisors LLC reduced its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 700 shares of the medical instruments supplier’s stock after selling 100 shares during the period. Cornerstone Advisors LLC’s holdings in Mettler-Toledo International were worth $978,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MTD. Principal Securities Inc. purchased a new position in shares of Mettler-Toledo International during the fourth quarter valued at about $61,000. Quadrant Capital Group LLC grew its position in shares of Mettler-Toledo International by 24.8% during the fourth quarter. Quadrant Capital Group LLC now owns 161 shares of the medical instruments supplier’s stock valued at $195,000 after purchasing an additional 32 shares in the last quarter. ING Groep NV grew its position in shares of Mettler-Toledo International by 8.2% during the fourth quarter. ING Groep NV now owns 2,969 shares of the medical instruments supplier’s stock valued at $3,601,000 after purchasing an additional 224 shares in the last quarter. Norges Bank purchased a new position in shares of Mettler-Toledo International during the fourth quarter valued at about $320,847,000. Finally, UBS Group AG grew its position in shares of Mettler-Toledo International by 50.2% during the fourth quarter. UBS Group AG now owns 44,077 shares of the medical instruments supplier’s stock valued at $53,464,000 after purchasing an additional 14,735 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

Shares of NYSE MTD opened at $1,393.91 on Tuesday. The company has a market cap of $29.77 billion, a P/E ratio of 39.09, a PEG ratio of 3.70 and a beta of 1.14. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,546.93. The firm has a 50-day simple moving average of $1,402.90 and a two-hundred day simple moving average of $1,372.83.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.65. The business had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $10.19 earnings per share. As a group, equities research analysts expect that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Insiders Place Their Bets

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MTD shares. Stifel Nicolaus raised their price objective on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Evercore ISI lifted their price target on 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. JPMorgan Chase & Co. lifted their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Jefferies Financial Group reiterated 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. Finally, The Goldman Sachs Group lifted their price target on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Mettler-Toledo International presently has a consensus rating of “Hold” and a consensus target price of $1,356.25.

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.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.