Victory Capital Management Inc. Reduces Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Victory Capital Management Inc. trimmed its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,713 shares of the medical instruments supplier’s stock after selling 471 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Mettler-Toledo International worth $16,370,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MTD. Bank of New York Mellon Corp increased its position in shares of Mettler-Toledo International by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock worth $763,764,000 after purchasing an additional 360,786 shares in the last quarter. Norges Bank purchased a new stake in shares of Mettler-Toledo International during the fourth quarter worth approximately $320,847,000. PineStone Asset Management Inc. increased its position in shares of Mettler-Toledo International by 127.4% during 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 in the last quarter. Capital International Investors grew its holdings in Mettler-Toledo International by 15.1% in 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. Finally, Corient Private Wealth LLC grew its holdings in Mettler-Toledo International by 854.0% in the 4th quarter. Corient Private Wealth LLC now owns 74,707 shares of the medical instruments supplier’s stock valued at $90,617,000 after buying an additional 66,876 shares in the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Trading Down 1.1 %

NYSE MTD opened at $1,373.40 on Friday. The stock has a market cap of $29.33 billion, a PE ratio of 38.51, a P/E/G ratio of 3.67 and a beta of 1.14. Mettler-Toledo International Inc. has a twelve month low of $928.49 and a twelve month high of $1,546.93. The stock has a fifty day simple moving average of $1,400.88 and a 200-day simple moving average of $1,368.51.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTD shares. 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. Wells Fargo & Company started coverage on 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. The Goldman Sachs Group upped their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Evercore ISI upped their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Finally, StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1,356.25.

Insider Buying and Selling

In related news, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated 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 owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Shawn Vadala sold 250 shares of the 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 transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Mettler-Toledo International Company 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.