Fiduciary Trust Co Reduces Position in Mettler-Toledo International Inc. (NYSE:MTD)

Fiduciary Trust Co decreased its position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,600 shares of the medical instruments supplier's stock after selling 436 shares during the period. Fiduciary Trust Co owned approximately 0.07% of Mettler-Toledo International worth $23,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Mettler-Toledo International by 4.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,989 shares of the medical instruments supplier's stock valued at $8,982,000 after purchasing an additional 234 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Mettler-Toledo International by 2.2% during the third quarter. Glenmede Trust Co. NA now owns 1,155 shares of the medical instruments supplier's stock worth $1,732,000 after acquiring an additional 25 shares in the last quarter. Townsquare Capital LLC grew its holdings in Mettler-Toledo International by 2.0% in the third quarter. Townsquare Capital LLC now owns 462 shares of the medical instruments supplier's stock worth $693,000 after purchasing an additional 9 shares during the period. Brooklyn Investment Group bought a new position in shares of Mettler-Toledo International during the 3rd quarter worth about $118,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Mettler-Toledo International by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,459 shares of the medical instruments supplier's stock valued at $33,680,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded up $11.10 during trading on Thursday, hitting $1,243.40. 89,021 shares of the company were exchanged, compared to its average volume of 137,165. The company has a market cap of $26.24 billion, a PE ratio of 33.53, a P/E/G ratio of 4.04 and a beta of 1.16. Mettler-Toledo International Inc. has a 52-week low of $1,059.08 and a 52-week high of $1,546.93. The stock has a 50 day moving average of $1,352.26 and a 200 day moving average of $1,396.49.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, beating the consensus estimate of $10.00 by $0.21. The firm had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. Sell-side analysts forecast that Mettler-Toledo International Inc. will post 40.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Elisha W. Finney sold 76 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the transaction, the director now owns 240 shares of the company's stock, valued at approximately $314,820. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTD. Evercore ISI lifted their target price on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an "in-line" rating in a research report on Tuesday, October 1st. Robert W. Baird lowered their target price on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. Stifel Nicolaus reduced their price target on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a "buy" rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a "neutral" rating in a report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Mettler-Toledo International presently has a consensus rating of "Hold" and a consensus target price of $1,338.75.

Mettler-Toledo International Company 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.