Canoe Financial LP Reduces Stake in Mettler-Toledo International, Inc. $MTD

Canoe Financial LP cut its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,864 shares of the medical instruments supplier’s stock after selling 2,260 shares during the quarter. Canoe Financial LP’s holdings in Mettler-Toledo International were worth $75,097,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in shares of Mettler-Toledo International by 83.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier’s stock valued at $78,000 after acquiring an additional 30 shares during the last quarter. Cetera Investment Advisers raised its stake in Mettler-Toledo International by 8.4% during the second quarter. Cetera Investment Advisers now owns 1,335 shares of the medical instruments supplier’s stock worth $1,568,000 after purchasing an additional 104 shares during the period. MAI Capital Management boosted its holdings in Mettler-Toledo International by 265.5% in the 2nd quarter. MAI Capital Management now owns 106 shares of the medical instruments supplier’s stock valued at $125,000 after purchasing an additional 77 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Mettler-Toledo International by 13.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,336 shares of the medical instruments supplier’s stock valued at $1,569,000 after purchasing an additional 157 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC grew its stake in shares of Mettler-Toledo International by 11.1% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 411 shares of the medical instruments supplier’s stock valued at $483,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Analysts Set New Price Targets

MTD has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Mettler-Toledo International from $1,600.00 to $1,550.00 and set an “overweight” rating for the company in a report on Monday, December 15th. Bank of America upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,600.00 price objective for the company in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Mettler-Toledo International in a research report on Monday, December 29th. The Goldman Sachs Group started coverage on Mettler-Toledo International in a research note on Tuesday, December 9th. They issued a “neutral” rating and a $1,475.00 price target on the stock. Finally, Wall Street Zen upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Mettler-Toledo International has an average rating of “Moderate Buy” and an average price target of $1,463.75.

Mettler-Toledo International Stock Performance

Shares of MTD stock opened at $1,234.22 on Friday. The firm has a market cap of $24.99 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.58 and a beta of 1.43. The firm’s 50 day moving average price is $1,328.56 and its 200-day moving average price is $1,364.02. Mettler-Toledo International, Inc. has a one year low of $946.69 and a one year high of $1,525.17.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Friday, February 6th. The medical instruments supplier reported $13.36 earnings per share for the quarter, beating the consensus estimate of $12.76 by $0.60. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mettler-Toledo International had a net margin of 21.59% and a negative return on equity of 495.07%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $12.41 EPS. As a group, research analysts predict that Mettler-Toledo International, Inc. will post 42.71 EPS for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 800 shares of Mettler-Toledo International stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $1,410.12, for a total value of $1,128,096.00. Following the completion of the sale, the chief financial officer directly owned 5,288 shares of the company’s stock, valued at approximately $7,456,714.56. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.94% of the company’s stock.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.