Pitcairn Co. Reduces Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Pitcairn Co. lowered its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246 shares of the medical instruments supplier’s stock after selling 29 shares during the quarter. Pitcairn Co.’s holdings in Mettler-Toledo International were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MTD. EverSource Wealth Advisors LLC boosted its position in shares of Mettler-Toledo International by 8.0% in the first quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 7 shares during the period. UMB Bank n.a. boosted its holdings in Mettler-Toledo International by 6.6% in the 2nd quarter. UMB Bank n.a. now owns 113 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 7 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Mettler-Toledo International by 7.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier’s stock valued at $166,000 after purchasing an additional 8 shares in the last quarter. DT Investment Partners LLC increased its holdings in shares of Mettler-Toledo International by 13.3% in the third quarter. DT Investment Partners LLC now owns 68 shares of the medical instruments supplier’s stock worth $102,000 after purchasing an additional 8 shares during the period. Finally, Suncoast Equity Management raised its position in shares of Mettler-Toledo International by 2.0% in the third quarter. Suncoast Equity Management now owns 460 shares of the medical instruments supplier’s stock worth $690,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,232.30 on Wednesday. The firm has a market cap of $26.00 billion, a P/E ratio of 33.22, a P/E/G ratio of 4.02 and a beta of 1.16. The firm’s fifty day moving average is $1,355.44 and its 200 day moving average is $1,397.57. Mettler-Toledo International Inc. has a 52 week low of $1,059.08 and a 52 week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, topping the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. The firm had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. As a group, analysts forecast that Mettler-Toledo International Inc. will post 40.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTD. JPMorgan Chase & Co. boosted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company cut their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Stifel Nicolaus lowered their target price on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Robert W. Baird cut their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, Evercore ISI increased their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1,338.75.

Insiders Place Their Bets

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total value of $99,693.00. Following the sale, the director now owns 240 shares of the company’s stock, valued at $314,820. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.