Kayne Anderson Rudnick Investment Management LLC Cuts Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,663 shares of the medical instruments supplier’s stock after selling 2,050 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.26% of Mettler-Toledo International worth $76,397,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Mettler-Toledo International during the 2nd quarter worth about $25,000. Rise Advisors LLC acquired a new position in shares of Mettler-Toledo International during the 1st quarter worth about $25,000. Spartan Planning & Wealth Management acquired a new stake in shares of Mettler-Toledo International during the 4th quarter worth about $27,000. Bellevue Group AG acquired a new stake in shares of Mettler-Toledo International during the 4th quarter worth about $30,000. Finally, Mather Group LLC. purchased a new stake in Mettler-Toledo International during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of NYSE:MTD opened at $1,406.11 on Friday. Mettler-Toledo International Inc. has a one year low of $928.49 and a one year high of $1,546.93. The stock has a market capitalization of $30.03 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 3.70 and a beta of 1.14. The company has a 50-day simple moving average of $1,408.63 and a 200-day simple moving average of $1,375.76.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. The company had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $10.19 EPS. As a group, research analysts forecast that Mettler-Toledo International Inc. will post 40.35 EPS for the current fiscal year.

Insider Activity at Mettler-Toledo International

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI lifted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group upped 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 note on Tuesday, July 9th. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped 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 report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and a consensus price target 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.