Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 75.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238 shares of the medical instruments supplier’s stock after selling 719 shares during the period. Edgestream Partners L.P.’s holdings in Mettler-Toledo International were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MTD. Assetmark Inc. boosted its position in shares of Mettler-Toledo International by 21.0% during the fourth quarter. Assetmark Inc. now owns 282 shares of the medical instruments supplier’s stock worth $342,000 after buying an additional 49 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Mettler-Toledo International by 32.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 676 shares of the medical instruments supplier’s stock worth $789,000 after buying an additional 166 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Mettler-Toledo International by 2.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,981 shares of the medical instruments supplier’s stock worth $9,681,000 after buying an additional 215 shares during the period. Hsbc Holdings PLC boosted its position in shares of Mettler-Toledo International by 66.4% during the fourth quarter. Hsbc Holdings PLC now owns 71,253 shares of the medical instruments supplier’s stock worth $86,656,000 after buying an additional 28,426 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in Mettler-Toledo International in the fourth quarter worth approximately $38,991,000. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Performance

Mettler-Toledo International stock opened at $1,405.90 on Tuesday. Mettler-Toledo International Inc. has a 52 week low of $928.49 and a 52 week high of $1,546.93. The firm has a market capitalization of $30.03 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 3.70 and a beta of 1.14. The company has a 50 day moving average price of $1,409.58 and a 200 day moving average price of $1,376.57.

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 business 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%. Mettler-Toledo International’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $10.19 earnings per share. Equities analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

Insider Transactions at Mettler-Toledo International

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTD. Evercore ISI upped their target price on 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. Stifel Nicolaus upped their target price on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. The Goldman Sachs Group upped their target price 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. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1,356.25.

Mettler-Toledo International 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.