Legacy Private Trust Co. cut its holdings in Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,053 shares of the medical instruments supplier’s stock after selling 55 shares during the period. Legacy Private Trust Co.’s holdings in Mettler-Toledo International were worth $2,693,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at $428,679,000. StonePine Asset Management Inc. boosted its holdings in shares of Mettler-Toledo International by 733.5% in the first quarter. StonePine Asset Management Inc. now owns 94,664 shares of the medical instruments supplier’s stock worth $144,856,000 after acquiring an additional 83,307 shares during the period. Alliancebernstein L.P. grew its position in shares of Mettler-Toledo International by 15.1% in the fourth quarter. Alliancebernstein L.P. now owns 532,108 shares of the medical instruments supplier’s stock valued at $769,136,000 after purchasing an additional 69,852 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mettler-Toledo International by 26.2% during the 4th 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 purchasing an additional 67,758 shares during the period. Finally, Canoe Financial LP purchased a new stake in Mettler-Toledo International during the 1st quarter worth about $77,670,000. 93.11% of the stock is owned by hedge funds and other institutional investors.
Mettler-Toledo International Trading Down 1.6 %
Shares of NYSE MTD traded down $18.30 during mid-day trading on Friday, hitting $1,139.37. The stock had a trading volume of 44,849 shares, compared to its average volume of 117,255. The business has a 50 day moving average price of $1,244.03 and a two-hundred day moving average price of $1,357.73. Mettler-Toledo International Inc. has a 1 year low of $1,065.55 and a 1 year high of $1,615.97. 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 $24.91 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15.
Analysts Set New Price Targets
A number of research analysts have weighed in on MTD shares. TheStreet lowered Mettler-Toledo International from a “b-” rating to a “c+” rating in a report on Tuesday, August 15th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Wells Fargo & Company lowered their price objective 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. Finally, Robert W. Baird decreased their target price on Mettler-Toledo International from $1,454.00 to $1,366.00 in a research note on Friday, July 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,470.14.
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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