Crewe Advisors LLC cut its position in shares of Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 41.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28 shares of the medical instruments supplier’s stock after selling 20 shares during the quarter. Crewe Advisors LLC’s holdings in Mettler-Toledo International were worth $43,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Mettler-Toledo International during the fourth quarter valued at $428,679,000. StonePine Asset Management Inc. raised its position in Mettler-Toledo International by 733.5% during the first quarter. StonePine Asset Management Inc. now owns 94,664 shares of the medical instruments supplier’s stock valued at $144,856,000 after buying an additional 83,307 shares during the period. Alliancebernstein L.P. raised its position in Mettler-Toledo International by 15.1% during the fourth quarter. Alliancebernstein L.P. now owns 532,108 shares of the medical instruments supplier’s stock valued at $769,136,000 after buying an additional 69,852 shares during the period. Price T Rowe Associates Inc. MD raised its position in Mettler-Toledo International by 26.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 326,105 shares of the medical instruments supplier’s stock valued at $471,369,000 after buying an additional 67,758 shares during the period. Finally, Canoe Financial LP acquired a new position in Mettler-Toledo International during the first quarter valued at $77,670,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. TheStreet lowered Mettler-Toledo International from a “b-” rating to a “c+” rating in a research report on Tuesday, August 15th. Robert W. Baird dropped their target price on Mettler-Toledo International from $1,454.00 to $1,366.00 in a research report on Friday, July 28th. Finally, Wells Fargo & Company dropped their target price on Mettler-Toledo International from $1,660.00 to $1,520.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1,470.14.
Mettler-Toledo International Stock Performance
Shares of NYSE MTD opened at $1,192.61 on Thursday. The company has a debt-to-equity ratio of 76.98, a quick ratio of 0.84 and a current ratio of 1.24. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 3.15 and a beta of 1.15. The business’s 50-day simple moving average is $1,264.50 and its 200-day simple moving average is $1,370.70. Mettler-Toledo International Inc. has a 52 week low of $1,065.55 and a 52 week high of $1,615.97.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last issued 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. The business had revenue of $982.12 million for the quarter, compared to analyst estimates of $1 billion. Mettler-Toledo International had a negative return on equity of 2,136.23% and a net margin of 22.48%. As a group, equities research analysts expect that Mettler-Toledo International Inc. will post 40.63 earnings per share for the current fiscal year.
Mettler-Toledo International 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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