Snowden Capital Advisors LLC Reduces Position in Mettler-Toledo International Inc. (NYSE:MTD)

Snowden Capital Advisors LLC trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,306 shares of the medical instruments supplier’s stock after selling 184 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Mettler-Toledo International were worth $1,598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Mettler-Toledo International by 9.9% in the fourth quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier’s stock worth $713,627,000 after buying an additional 52,726 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mettler-Toledo International by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier’s stock worth $682,340,000 after buying an additional 11,032 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mettler-Toledo International by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 455,739 shares of the medical instruments supplier’s stock worth $557,680,000 after buying an additional 25,873 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Mettler-Toledo International by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock worth $444,327,000 after buying an additional 96,300 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Mettler-Toledo International in the fourth quarter worth about $372,954,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the transaction, the insider now directly owns 734 shares in the company, valued at $964,248.46. This trade represents a 51.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Price Performance

Shares of MTD opened at $1,158.93 on Friday. The firm’s 50 day simple moving average is $1,107.03 and its 200 day simple moving average is $1,218.11. The company has a market capitalization of $24.09 billion, a P/E ratio of 28.59, a P/E/G ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a 1-year low of $946.69 and a 1-year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The business had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same period last year, the business earned $8.89 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTD shares. Jefferies Financial Group raised shares of Mettler-Toledo International from an “underperform” rating to a “hold” rating and lowered their price target for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Robert W. Baird lowered their price target on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Citigroup raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a research note on Monday, April 7th. Finally, StockNews.com downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and a consensus price target of $1,296.13.

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.