Verition Fund Management LLC Cuts Position in Mettler-Toledo International Inc. (NYSE:MTD)

Verition Fund Management LLC lowered its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 54.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 328 shares of the medical instruments supplier’s stock after selling 396 shares during the period. Verition Fund Management LLC’s holdings in Mettler-Toledo International were worth $492,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Family Firm Inc. bought a new position in shares of Mettler-Toledo International during the second quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 17 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Mettler-Toledo International during the third quarter valued at approximately $37,000. Rothschild Investment LLC purchased a new stake in Mettler-Toledo International in the second quarter worth $42,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Mettler-Toledo International in the second quarter valued at $42,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Wall Street Analyst Weigh In

MTD has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Robert W. Baird dropped their price target on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Evercore ISI upped their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Finally, Citigroup upgraded shares of Mettler-Toledo International from a “sell” rating to a “neutral” rating and raised their target price for the stock from $1,200.00 to $1,300.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Mettler-Toledo International currently has an average rating of “Hold” and an average target price of $1,351.25.

Insider Buying and Selling

In other news, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the transaction, the director now owns 240 shares of the company’s stock, valued at approximately $314,820. This represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerry Keller sold 140 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1,254.09, for a total value of $175,572.60. Following the sale, the insider now directly owns 6 shares of the company’s stock, valued at $7,524.54. This represents a 95.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Mettler-Toledo International Trading Down 0.0 %

Mettler-Toledo International stock opened at $1,270.63 on Thursday. Mettler-Toledo International Inc. has a 12-month low of $1,103.73 and a 12-month high of $1,546.93. The firm has a market capitalization of $26.81 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 4.15 and a beta of 1.13. The firm has a 50 day moving average of $1,317.66 and a 200 day moving average of $1,380.29.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. On average, analysts predict that Mettler-Toledo International Inc. will post 40.42 EPS for the current year.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, 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, real-time analytics, 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.