Mettler-Toledo International, Inc. (NYSE:MTD) Shares Sold by Commerce Bank

by · The Markets Daily

Commerce Bank lessened its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 22.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,046 shares of the medical instruments supplier’s stock after selling 296 shares during the quarter. Commerce Bank’s holdings in Mettler-Toledo International were worth $1,235,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Jefferies Financial Group Inc. lifted its holdings in Mettler-Toledo International by 42.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 12,057 shares of the medical instruments supplier’s stock valued at $14,238,000 after purchasing an additional 3,590 shares in the last quarter. Vestcor Inc increased its stake in shares of Mettler-Toledo International by 122.4% in the 1st quarter. Vestcor Inc now owns 2,317 shares of the medical instruments supplier’s stock worth $2,736,000 after acquiring an additional 1,275 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Mettler-Toledo International during the 1st quarter worth $2,561,000. Meeder Advisory Services Inc. grew its holdings in shares of Mettler-Toledo International by 4.5% in the first quarter. Meeder Advisory Services Inc. now owns 371 shares of the medical instruments supplier’s stock valued at $438,000 after purchasing an additional 16 shares during the period. Finally, Solidarity Wealth LLC increased its position in Mettler-Toledo International by 5.8% during the first quarter. Solidarity Wealth LLC now owns 4,867 shares of the medical instruments supplier’s stock worth $5,747,000 after purchasing an additional 268 shares during the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MTD. Wall Street Zen lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Robert W. Baird upped their price target on Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a “neutral” rating in a research note on Monday. Evercore ISI cut their price objective on Mettler-Toledo International from $1,280.00 to $1,275.00 and set an “outperform” rating for the company in a research report on Monday. UBS Group raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $1,530.00 to $1,350.00 in a research note on Tuesday, May 20th. Finally, Barclays initiated coverage on shares of Mettler-Toledo International in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $1,325.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1,288.89.

Read Our Latest Research Report on MTD

Insider Activity

In other news, Director Michael A. Kelly sold 1,062 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the sale, the director owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company’s stock.

Mettler-Toledo International Stock Up 1.0%

Shares of NYSE MTD opened at $1,244.26 on Wednesday. The firm has a 50-day moving average price of $1,197.57 and a 200 day moving average price of $1,192.45. The stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 3.70 and a beta of 1.34. Mettler-Toledo International, Inc. has a 52 week low of $946.69 and a 52 week high of $1,521.01.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, beating the consensus estimate of $9.58 by $0.51. The business had revenue of $983.22 million for the quarter, compared to analyst estimates of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $9.65 earnings per share. Equities research analysts expect that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Mettler-Toledo International Company Profile

(Free Report)

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.

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