Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,551 shares of the medical instruments supplier’s stock after selling 952 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mettler-Toledo International were worth $4,472,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MTD. Smithfield Trust Co. lifted its holdings in Mettler-Toledo International by 57.1% in the 1st quarter. Smithfield Trust Co. now owns 44 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 16 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Mettler-Toledo International by 10,633.3% in the second quarter. Jacobi Capital Management LLC now owns 6,440 shares of the medical instruments supplier’s stock worth $48,000 after acquiring an additional 6,380 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Mettler-Toledo International by 40.7% in the fourth quarter. Quadrant Capital Group LLC now owns 83 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 24 shares during the last quarter. Allred Capital Management LLC grew its stake in Mettler-Toledo International by 19.8% during the 1st quarter. Allred Capital Management LLC now owns 109 shares of the medical instruments supplier’s stock valued at $75,000 after purchasing an additional 18 shares in the last quarter. Finally, AGF Investments LLC increased its holdings in Mettler-Toledo International by 15.5% during the 1st quarter. AGF Investments LLC now owns 119 shares of the medical instruments supplier’s stock worth $82,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 94.24% of the company’s stock.
In related news, Director Thomas P. Salice sold 542 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $780.00, for a total value of $422,760.00. Following the sale, the director now directly owns 46,225 shares in the company, valued at approximately $36,055,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christian Magloth sold 151 shares of Mettler-Toledo International stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $791.01, for a total value of $119,442.51. The disclosure for this sale can be found here. Insiders have sold a total of 13,547 shares of company stock valued at $9,694,046 over the last three months. 3.20% of the stock is currently owned by company insiders.
NYSE:MTD opened at $935.00 on Friday. The firm has a market capitalization of $22.35 billion, a P/E ratio of 40.94, a P/E/G ratio of 4.74 and a beta of 1.08. The business has a 50 day simple moving average of $823.58 and a 200 day simple moving average of $759.60. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.77 and a quick ratio of 1.34. Mettler-Toledo International Inc. has a 12-month low of $579.40 and a 12-month high of $953.70.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $1.02. The company had revenue of $690.67 million during the quarter, compared to the consensus estimate of $647.43 million. Mettler-Toledo International had a net margin of 18.61% and a return on equity of 144.27%. During the same quarter in the previous year, the company posted $5.16 earnings per share. Research analysts anticipate that Mettler-Toledo International Inc. will post 23.1 EPS for the current fiscal year.
A number of research firms have recently weighed in on MTD. Evercore ISI downgraded shares of Mettler-Toledo International from an “in-line” rating to an “underperform” rating in a research report on Sunday, April 19th. UBS Group boosted their target price on shares of Mettler-Toledo International from $755.00 to $770.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Citigroup increased their price target on shares of Mettler-Toledo International from $725.00 to $740.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Bank of America boosted their price objective on Mettler-Toledo International from $755.00 to $830.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Mettler-Toledo International in a report on Friday. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $733.20.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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