Mettler-Toledo International, Inc. $MTD Stock Sold by North Point Portfolio Managers Corp OH

by · The Markets Daily

North Point Portfolio Managers Corp OH decreased its position in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,052 shares of the medical instruments supplier’s stock after selling 328 shares during the quarter. Mettler-Toledo International accounts for 2.2% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 18th biggest holding. North Point Portfolio Managers Corp OH’s holdings in Mettler-Toledo International were worth $12,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MTD. XXEC Inc. bought a new stake in Mettler-Toledo International in the second quarter worth $77,044,000. BlackRock Inc. bought a new position in Mettler-Toledo International in the 2nd quarter worth about $2,404,713,000. T. Rowe Price Investment Management Inc. grew its stake in Mettler-Toledo International by 0.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier’s stock worth $964,174,000 after purchasing an additional 3,157 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Mettler-Toledo International during the second quarter valued at $762,553,000. Finally, Wellington Management Group LLP increased its position in Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after purchasing an additional 413,547 shares during the period. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at $6,384,000. This trade represents a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerry Keller sold 240 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the sale, the insider directly owned 259 shares of the company’s stock, valued at $369,629.26. This represents a 48.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,254 shares of company stock valued at $6,092,712. Corporate insiders own 0.71% of the company’s stock.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded down $1.26 during trading on Wednesday, reaching $1,531.81. 97,761 shares of the company’s stock traded hands, compared to its average volume of 180,623. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. Mettler-Toledo International, Inc. has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,585.72. The company has a 50-day simple moving average of $1,416.38 and a 200-day simple moving average of $1,295.27. The firm has a market cap of $30.70 billion, a PE ratio of 34.48, a P/E/G ratio of 3.09 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.78 by $0.68. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.Mettler-Toledo International’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.09 EPS. As a group, analysts predict that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MTD. Royal Bank Of Canada began coverage on shares of Mettler-Toledo International in a report on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 target price for the company. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Barclays increased their price objective on shares of Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group assumed coverage on Mettler-Toledo International in a research report on Wednesday, September 9th. They set a “neutral” rating and a $1,460.00 price target for the company. Finally, Rothschild & Co Redburn started coverage on shares of Mettler-Toledo International in a research note on Wednesday, September 2nd. They set a “sell” rating and a $1,200.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mettler-Toledo International has a consensus rating of “Hold” and an average price target of $1,459.54.

View Our Latest Stock Report on MTD

Mettler-Toledo International Profile

(Free Report)

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company’s solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.

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