Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,883 shares of the medical instruments supplier’s stock after selling 163 shares during the period. CIBC Asset Management Inc’s holdings in Mettler-Toledo International were worth $4,029,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Mettler-Toledo International by 8.0% during the first quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 7 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Mettler-Toledo International by 6.6% during the second quarter. UMB Bank n.a. now owns 113 shares of the medical instruments supplier’s stock worth $158,000 after purchasing an additional 7 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Mettler-Toledo International by 0.4% during the first quarter. Gulf International Bank UK Ltd now owns 1,813 shares of the medical instruments supplier’s stock worth $2,413,000 after purchasing an additional 8 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Mettler-Toledo International by 32.0% during the first quarter. Bellevue Group AG now owns 33 shares of the medical instruments supplier’s stock worth $44,000 after purchasing an additional 8 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Mettler-Toledo International by 7.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier’s stock worth $166,000 after purchasing an additional 8 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Down 0.7 %

Shares of NYSE:MTD opened at $1,387.64 on Thursday. The company has a market cap of $29.64 billion, a P/E ratio of 38.91, a PEG ratio of 3.84 and a beta of 1.17. Mettler-Toledo International Inc. has a 52 week low of $928.49 and a 52 week high of $1,546.93. The company has a 50-day moving average price of $1,399.52 and a 200 day moving average price of $1,361.75.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

MTD has been the topic of several research reports. The Goldman Sachs Group raised their price objective 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. Stifel Nicolaus raised their price target on 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. Jefferies Financial Group reissued an “underperform” rating and set a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Evercore ISI raised their price target on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Finally, Citigroup raised their price target on Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a “sell” rating in a report on Monday, May 13th. 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’s stock. According to data from MarketBeat, Mettler-Toledo International has a consensus 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.