Mettler-Toledo International, Inc. $MTD Stock Holdings Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,515 shares of the medical instruments supplier’s stock after selling 2,721 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.08% of Mettler-Toledo International worth $24,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. XXEC Inc. purchased a new position in shares of Mettler-Toledo International in the second quarter worth about $77,044,000. BlackRock Inc. purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at approximately $2,404,713,000. Bank of New York Mellon Corp purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at approximately $762,553,000. Wellington Management Group LLP lifted its stake in shares of Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after buying an additional 413,547 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Mettler-Toledo International in the 2nd quarter worth approximately $240,817,000. Institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Trading Down 0.1%

Shares of MTD opened at $1,750.03 on Thursday. The business’s 50-day moving average price is $1,546.33 and its 200-day moving average price is $1,350.82. Mettler-Toledo International, Inc. has a twelve month low of $1,023.05 and a twelve month high of $1,806.58. The stock has a market cap of $34.81 billion, a PE ratio of 37.92, a P/E/G ratio of 3.49 and a beta of 1.16. The company has a quick ratio of 0.75, a current ratio of 1.10 and a debt-to-equity ratio of 25.28.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $12.57 EPS for the quarter, beating analysts’ consensus estimates of $12.13 by $0.44. Mettler-Toledo International had a net margin of 22.25% and a return on equity of 15,012.71%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $11.15 earnings per share. Mettler-Toledo International’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Mettler-Toledo International, Inc. will post 47.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the sale, the chief executive officer directly owned 4,480 shares in the company, valued at $6,384,000. This represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gerry Keller sold 435 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,734.05, for a total transaction of $754,311.75. Following the completion of the transaction, the insider directly owned 259 shares of the company’s stock, valued at approximately $449,118.95. The trade was a 62.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

MTD has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Mettler-Toledo International from $1,700.00 to $1,900.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group increased their target price on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada assumed coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They set a “sector perform” rating and a $1,515.00 target price on the stock. Weiss Ratings raised Mettler-Toledo International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Finally, Robert W. Baird lifted their price target on Mettler-Toledo International from $1,608.00 to $1,815.00 and gave the company a “neutral” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mettler-Toledo International has an average rating of “Hold” and a consensus target price of $1,595.77.

View Our Latest Research Report on MTD

About Mettler-Toledo International

(Free Report)

Mettler-Toledo International develops and manufactures precision instruments and systems used in laboratory, industrial, and retail settings. Its products include laboratory balances and analytical instruments, industrial scales and weighing systems, and equipment for measuring and monitoring production processes. The company also supplies product-inspection systems, including checkweighers, metal detectors, and X-ray inspection equipment, along with related software, installation, maintenance, and calibration services.

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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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