Truist Financial Corp Trims Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Truist Financial Corp trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 895 shares of the medical instruments supplier’s stock after selling 49 shares during the period. Truist Financial Corp’s holdings in Mettler-Toledo International were worth $1,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in Mettler-Toledo International in the second quarter worth $25,000. Rise Advisors LLC bought a new stake in Mettler-Toledo International in the first quarter worth $25,000. Spartan Planning & Wealth Management bought a new stake in Mettler-Toledo International in the fourth quarter worth $27,000. Mather Group LLC. bought a new stake in Mettler-Toledo International in the first quarter worth $32,000. Finally, Quarry LP bought a new stake in Mettler-Toledo International in the fourth quarter worth $36,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,450.95 on Friday. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93. The business’s 50-day moving average is $1,421.67 and its two-hundred day moving average is $1,390.99. The company has a market cap of $30.99 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 4.24 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The company had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. During the same quarter in the prior year, the company earned $10.19 earnings per share. Mettler-Toledo International’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current year.

Insider Buying and Selling 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 dated Thursday, August 15th. The stock was 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 owns 734 shares in the company, valued at $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares in the company, valued at $6,884,514. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MTD shares. JPMorgan Chase & Co. boosted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Evercore ISI boosted their target price on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on Mettler-Toledo International in a report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,363.75.

Mettler-Toledo International Company Profile

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.