Envestnet Asset Management Inc. Lowers Position in Mettler-Toledo International Inc. (NYSE:MTD)

Envestnet Asset Management Inc. reduced its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,153 shares of the medical instruments supplier’s stock after selling 2,801 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of Mettler-Toledo International worth $86,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MTD. Wealthspire Advisors LLC increased its position in shares of Mettler-Toledo International by 144.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,852 shares of the medical instruments supplier’s stock valued at $2,588,000 after purchasing an additional 1,095 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Mettler-Toledo International by 12.9% during the 2nd quarter. Parallel Advisors LLC now owns 192 shares of the medical instruments supplier’s stock valued at $268,000 after purchasing an additional 22 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its position in shares of Mettler-Toledo International by 10.3% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 655 shares of the medical instruments supplier’s stock valued at $915,000 after purchasing an additional 61 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Mettler-Toledo International by 10.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,667 shares of the medical instruments supplier’s stock valued at $10,715,000 after purchasing an additional 717 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at $391,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTD has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Jefferies Financial Group reissued an “underperform” rating and issued a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Wells Fargo & Company initiated coverage on Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Mettler-Toledo International presently has a consensus rating of “Hold” and an average target price of $1,356.25.

Mettler-Toledo International Stock Down 0.7 %

Shares of NYSE MTD opened at $1,383.47 on Wednesday. Mettler-Toledo International Inc. has a 52 week low of $928.49 and a 52 week high of $1,546.93. The business has a 50-day simple moving average of $1,404.41 and a two-hundred day simple moving average of $1,373.63. The company has a market cap of $29.55 billion, a P/E ratio of 38.80, a P/E/G ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 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 business had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. During the same quarter last year, the company earned $10.19 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.35 EPS for the current year.

Insider Activity

In other news, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International 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 completion of the sale, the insider now owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International 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 completion of the sale, the insider now owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following 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. Corporate insiders own 1.94% of the company’s stock.

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.