Swiss National Bank lowered its position in Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,600 shares of the medical instruments supplier’s stock after selling 8,900 shares during the quarter. Swiss National Bank’s holdings in Mettler-Toledo International were worth $104,407,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter worth about $36,853,000. Pictet Asset Management SA boosted its position in Mettler-Toledo International by 3.8% during the 1st quarter. Pictet Asset Management SA now owns 11,121 shares of the medical instruments supplier’s stock worth $17,017,000 after purchasing an additional 408 shares during the period. Private Advisor Group LLC acquired a new stake in Mettler-Toledo International in the 1st quarter valued at $404,000. Nicholas Company Inc. raised its position in Mettler-Toledo International by 12.4% in the second quarter. Nicholas Company Inc. now owns 12,915 shares of the medical instruments supplier’s stock valued at $16,940,000 after purchasing an additional 1,420 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Mettler-Toledo International by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 80,824 shares of the medical instruments supplier’s stock worth $123,135,000 after purchasing an additional 7,234 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Saturday. TheStreet cut shares of 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. The Goldman Sachs Group reduced their price target on Mettler-Toledo International from $1,185.00 to $1,030.00 and set a “neutral” rating for the company in a report on Monday. Finally, Stifel Nicolaus dropped their price objective on Mettler-Toledo International from $1,425.00 to $1,270.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,302.29.
Mettler-Toledo International Stock Up 2.8 %
Shares of NYSE MTD opened at $1,048.19 on Wednesday. The stock’s 50 day moving average price is $1,067.77 and its two-hundred day moving average price is $1,221.61. Mettler-Toledo International Inc. has a 52-week low of $928.49 and a 52-week high of $1,615.97. The stock has a market capitalization of $22.72 billion, a P/E ratio of 26.72, a PEG ratio of 5.18 and a beta of 1.17.
Mettler-Toledo International (NYSE:MTD – Get Free Report) last posted its quarterly earnings results on Thursday, November 9th. The medical instruments supplier reported $9.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.63 by $0.17. The business had revenue of $942.46 million for the quarter, compared to analyst estimates of $947.10 million. Mettler-Toledo International had a negative return on equity of 1,852.05% and a net margin of 22.24%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $10.18 EPS. On average, analysts anticipate that Mettler-Toledo International Inc. will post 39.19 EPS for the current year.
About Mettler-Toledo International
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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