Canada Pension Plan Investment Board Sells 2,855 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Canada Pension Plan Investment Board cut its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 22.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,745 shares of the medical instruments supplier’s stock after selling 2,855 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Mettler-Toledo International were worth $13,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. grew its stake in Mettler-Toledo International by 21.0% in the 4th quarter. Assetmark Inc. now owns 282 shares of the medical instruments supplier’s stock valued at $342,000 after buying an additional 49 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Mettler-Toledo International by 32.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 676 shares of the medical instruments supplier’s stock worth $789,000 after purchasing an additional 166 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Mettler-Toledo International by 2.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 7,981 shares of the medical instruments supplier’s stock worth $9,681,000 after purchasing an additional 215 shares during the period. Hsbc Holdings PLC grew its holdings in Mettler-Toledo International by 66.4% during the 4th quarter. Hsbc Holdings PLC now owns 71,253 shares of the medical instruments supplier’s stock valued at $86,656,000 after buying an additional 28,426 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Mettler-Toledo International during the fourth quarter valued at about $38,991,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and set a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. The Goldman Sachs Group increased their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Wells Fargo & Company assumed coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 target price for the company. Stifel Nicolaus raised 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. Finally, Evercore ISI upped their price objective 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 report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $1,356.25.

Mettler-Toledo International Price Performance

Shares of Mettler-Toledo International stock opened at $1,405.90 on Tuesday. The stock has a market capitalization of $30.03 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14. Mettler-Toledo International Inc. has a one year low of $928.49 and a one year high of $1,546.93. The business’s 50 day simple moving average is $1,409.58 and its two-hundred day simple moving average is $1,376.57.

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

Insider Activity at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian Magloth sold 1,000 shares of the 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 sale, the insider now directly owns 734 shares in the company, valued at $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

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.