Allspring Global Investments Holdings LLC Reduces Position in Mettler-Toledo International Inc. (NYSE:MTD)

Allspring Global Investments Holdings LLC lessened its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,269 shares of the medical instruments supplier’s stock after selling 158 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Mettler-Toledo International were worth $1,689,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTD. Rise Advisors LLC purchased a new stake in shares of Mettler-Toledo International in the 1st quarter valued at $25,000. MV Capital Management Inc. boosted its holdings in shares of Mettler-Toledo International by 162.5% in the 4th quarter. MV Capital Management Inc. now owns 21 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $27,000. Spartan Planning & Wealth Management purchased a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $27,000. Finally, Bellevue Group AG purchased a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Insiders Place Their Bets

In other Mettler-Toledo International news, insider Christian Magloth sold 1,100 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at $1,079,691.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Christian Magloth sold 1,100 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the completion of the sale, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerry Keller sold 310 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $1,511.56, for a total transaction of $468,583.60. Following the sale, the insider now directly owns 6 shares of the company’s stock, valued at approximately $9,069.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,278 shares of company stock worth $4,871,849. Company insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a report on Tuesday. Citigroup upped their price objective on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a “sell” rating in a report on Monday, May 13th. Robert W. Baird boosted their target price on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. StockNews.com cut shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group reiterated 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 note on Monday, June 3rd. Two 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 data from MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and an average price target of $1,267.50.

Mettler-Toledo International Stock Performance

NYSE:MTD opened at $1,353.69 on Thursday. The company has a fifty day moving average of $1,405.40 and a two-hundred day moving average of $1,296.35. The stock has a market capitalization of $28.91 billion, a PE ratio of 37.96, a P/E/G ratio of 3.75 and a beta of 1.17. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,535.86.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. The company had revenue of $925.95 million during the quarter, compared to analysts’ expectations of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $8.69 earnings per share. Research analysts forecast that Mettler-Toledo International Inc. will post 40.13 earnings per share for the current year.

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.