Tredje AP fonden Trims Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Tredje AP fonden decreased its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,409 shares of the medical instruments supplier’s stock after selling 874 shares during the quarter. Tredje AP fonden’s holdings in Mettler-Toledo International were worth $4,764,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Life Insurance Co grew its stake in Mettler-Toledo International by 8.6% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 543 shares of the medical instruments supplier’s stock worth $759,000 after buying an additional 43 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Mettler-Toledo International by 8.0% in the second quarter. Axxcess Wealth Management LLC now owns 794 shares of the medical instruments supplier’s stock valued at $1,110,000 after acquiring an additional 59 shares during the period. Virtu Financial LLC purchased a new position in shares of Mettler-Toledo International during the second quarter worth approximately $2,992,000. Renaissance Technologies LLC raised its position in Mettler-Toledo International by 478.6% in the 2nd quarter. Renaissance Technologies LLC now owns 12,730 shares of the medical instruments supplier’s stock valued at $17,791,000 after purchasing an additional 10,530 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Mettler-Toledo International during the 2nd quarter worth $328,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,402.69 on Thursday. The stock’s 50 day moving average price is $1,406.00 and its 200 day moving average price is $1,373.84. Mettler-Toledo International Inc. has a 1-year low of $928.49 and a 1-year high of $1,546.93. The company has a market cap of $29.96 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, topping the consensus estimate of $9.00 by $0.65. The company had revenue of $946.75 million for the quarter, compared to analyst estimates of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $10.19 EPS. On average, equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group restated an “underperform” rating and issued a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Wells Fargo & Company initiated coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1,356.25.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.