Intech Investment Management LLC Lowers Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Intech Investment Management LLC cut its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 39.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209 shares of the medical instruments supplier’s stock after selling 135 shares during the quarter. Intech Investment Management LLC’s holdings in Mettler-Toledo International were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MTD. Orion Portfolio Solutions LLC grew its holdings 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 in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $514,000. Scotia Capital Inc. grew its holdings in shares of Mettler-Toledo International by 67.6% during the fourth quarter. Scotia Capital Inc. now owns 627 shares of the medical instruments supplier’s stock worth $761,000 after buying an additional 253 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Mettler-Toledo International by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 35,645 shares of the medical instruments supplier’s stock worth $43,236,000 after buying an additional 943 shares in the last quarter. Finally, APG Asset Management US Inc. purchased a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $5,179,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Down 0.8 %

Shares of MTD stock opened at $1,478.92 on Friday. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 41.47, a price-to-earnings-growth ratio of 3.75 and a beta of 1.14. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93. The firm’s 50 day moving average price is $1,416.98 and its two-hundred day moving average price is $1,379.81.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share 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%. Mettler-Toledo International’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $10.19 earnings per share. On average, equities analysts forecast that Mettler-Toledo International Inc. will post 40.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTD has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 target price for the company. 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 report on Monday, June 3rd. JPMorgan Chase & Co. boosted their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Stifel Nicolaus boosted their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1,356.25.

Insider Transactions at Mettler-Toledo International

In other news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 734 shares of the company’s stock, valued at $1,044,459.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christian Magloth sold 1,000 shares of the business’s 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 transaction, 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. Corporate insiders own 1.94% of the company’s stock.

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.