Canoe Financial LP lessened its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,824 shares of the medical instruments supplier’s stock after selling 2,040 shares during the quarter. Canoe Financial LP’s holdings in Mettler-Toledo International were worth $65,360,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of MTD. Reflection Asset Management bought a new stake in shares of Mettler-Toledo International in the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in Mettler-Toledo International in the fourth quarter valued at $29,000. DV Equities LLC bought a new position in Mettler-Toledo International during the 4th quarter valued at $40,000. Quantbot Technologies LP acquired a new position in Mettler-Toledo International during the 3rd quarter worth $49,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Mettler-Toledo International during the 4th quarter worth $56,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.
Mettler-Toledo International Stock Performance
Shares of NYSE:MTD opened at $1,263.76 on Monday. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,525.17. The company’s fifty day moving average is $1,178.25 and its two-hundred day moving average is $1,293.13.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Mettler-Toledo International from $1,600.00 to $1,400.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Wolfe Research started coverage on Mettler-Toledo International in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Barclays lowered their price objective on Mettler-Toledo International from $1,550.00 to $1,500.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their target price on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, Morgan Stanley decreased their target price on Mettler-Toledo International from $1,475.00 to $1,275.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,408.55.
About Mettler-Toledo International
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.
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