Welch & Forbes LLC trimmed its stake in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,807 shares of the medical instruments supplier’s stock after selling 541 shares during the quarter. Welch & Forbes LLC owned approximately 0.29% of Mettler-Toledo International worth $74,167,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new stake in shares of Mettler-Toledo International in the 1st quarter valued at approximately $25,000. Reflection Asset Management bought a new position in shares of Mettler-Toledo International in the fourth quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in Mettler-Toledo International during the fourth quarter worth $29,000. Root Financial Partners LLC increased its holdings in Mettler-Toledo International by 45.5% during the first quarter. Root Financial Partners LLC now owns 32 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 10 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Mettler-Toledo International during the fourth quarter worth $40,000. Institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Trading Up 0.7%
Shares of NYSE:MTD traded up $8.51 on Friday, hitting $1,296.53. The company had a trading volume of 106,818 shares, compared to its average volume of 205,615. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.70 and a beta of 1.24. The stock has a 50 day moving average price of $1,177.49 and a 200 day moving average price of $1,286.27. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,525.17.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MTD. Morgan Stanley decreased their price objective on shares of 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. Citigroup dropped their target price on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $1,450.00 in a research note on Friday, March 20th. Stifel Nicolaus reduced their price target on Mettler-Toledo International from $1,600.00 to $1,400.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. cut their price objective on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1,408.55.
Check Out Our Latest Report on MTD
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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