Bell Asset Management Ltd trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 26.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,817 shares of the medical instruments supplier’s stock after selling 1,038 shares during the period. Bell Asset Management Ltd’s holdings in Mettler-Toledo International were worth $4,311,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Echo Street Capital Management LLC grew its stake in shares of Mettler-Toledo International by 5.5% during the 4th quarter. Echo Street Capital Management LLC now owns 169,846 shares of the medical instruments supplier’s stock worth $245,504,000 after purchasing an additional 8,815 shares during the period. ING Groep NV grew its position in Mettler-Toledo International by 114.5% during the fourth quarter. ING Groep NV now owns 1,991 shares of the medical instruments supplier’s stock valued at $2,878,000 after buying an additional 1,063 shares during the period. Lincoln National Corp increased its holdings in Mettler-Toledo International by 20.3% in the fourth quarter. Lincoln National Corp now owns 475 shares of the medical instruments supplier’s stock valued at $687,000 after buying an additional 80 shares in the last quarter. Pictet Asset Management SA raised its position in shares of Mettler-Toledo International by 3.8% in the first quarter. Pictet Asset Management SA now owns 11,121 shares of the medical instruments supplier’s stock worth $17,017,000 after acquiring an additional 408 shares during the period. Finally, RMR Wealth Builders acquired a new stake in shares of Mettler-Toledo International during the 1st quarter valued at about $202,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on MTD shares. Bank of America lowered their price target on Mettler-Toledo International from $1,650.00 to $1,525.00 in a research report on Sunday, May 7th. Stifel Nicolaus reduced their price objective on shares of Mettler-Toledo International from $1,700.00 to $1,650.00 in a research report on Monday, May 8th. Robert W. Baird reduced their price objective on Mettler-Toledo International from $1,454.00 to $1,366.00 in a research note on Friday, July 28th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, TheStreet downgraded Mettler-Toledo International from a “b-” rating to a “c+” rating in a research note on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1,470.14.
Mettler-Toledo International Stock Performance
Shares of MTD stock traded down $4.09 during mid-day trading on Thursday, hitting $1,213.48. The stock had a trading volume of 165,123 shares, compared to its average volume of 115,693. The firm has a market cap of $26.53 billion, a PE ratio of 30.79, a PEG ratio of 3.06 and a beta of 1.14. The company’s 50-day simple moving average is $1,271.15 and its 200-day simple moving average is $1,382.19. The company has a debt-to-equity ratio of 76.98, a current ratio of 1.24 and a quick ratio of 0.84. Mettler-Toledo International Inc. has a fifty-two week low of $1,065.55 and a fifty-two week high of $1,615.97.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $10.19 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.20. Mettler-Toledo International had a net margin of 22.48% and a negative return on equity of 2,136.23%. The firm had revenue of $982.12 million during the quarter, compared to the consensus estimate of $1 billion. Sell-side analysts anticipate that Mettler-Toledo International Inc. will post 40.63 earnings per share for the current year.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the United States 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, 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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