American Century Companies Inc. Trims Stake in Mettler-Toledo International Inc. (NYSE:MTD)

American Century Companies Inc. cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 47.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,968 shares of the medical instruments supplier’s stock after selling 71,704 shares during the period. American Century Companies Inc. owned about 0.38% of Mettler-Toledo International worth $113,160,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MTD. Capital International Investors lifted its position in shares of Mettler-Toledo International by 15.1% during the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock valued at $1,431,696,000 after buying an additional 141,431 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Mettler-Toledo International by 169.4% during the 1st quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock worth $763,764,000 after acquiring an additional 360,786 shares during the period. Norges Bank purchased a new position in Mettler-Toledo International during the fourth quarter valued at approximately $320,847,000. PineStone Asset Management Inc. boosted its position in shares of Mettler-Toledo International by 127.4% in the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock worth $362,855,000 after purchasing an additional 145,453 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Mettler-Toledo International by 2.8% in the first quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock worth $330,169,000 after purchasing an additional 6,788 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MTD has been the topic of a number of analyst reports. Wells Fargo & Company assumed coverage on shares of Mettler-Toledo International in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 target price on the stock. Stifel Nicolaus upped their price objective on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group reiterated 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 report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and an average target price of $1,356.25.

Mettler-Toledo International Stock Performance

NYSE MTD opened at $1,383.06 on Friday. The stock has a 50 day moving average price of $1,401.62 and a 200-day moving average price of $1,369.81. Mettler-Toledo International Inc. has a one year low of $928.49 and a one year high of $1,546.93. The company has a market capitalization of $29.35 billion, a P/E ratio of 38.78, a P/E/G ratio of 3.70 and a beta of 1.14.

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

Insider Buying and Selling

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 734 shares in the company, valued at $1,044,459.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Christian Magloth sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was 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 owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

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.