Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,759 shares of the medical instruments supplier's stock after selling 1,288 shares during the period. Fred Alger Management LLC's holdings in Mettler-Toledo International were worth $5,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MTD. B. Riley Wealth Advisors Inc. purchased a new position in Mettler-Toledo International during the 1st quarter worth $317,000. Cetera Advisors LLC grew its stake in shares of Mettler-Toledo International by 8.0% during the first quarter. Cetera Advisors LLC now owns 459 shares of the medical instruments supplier's stock worth $611,000 after acquiring an additional 34 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Mettler-Toledo International by 8.0% during the first quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier's stock valued at $117,000 after acquiring an additional 7 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Mettler-Toledo International by 70.5% in the 2nd quarter. GAMMA Investing LLC now owns 225 shares of the medical instruments supplier's stock valued at $314,000 after purchasing an additional 93 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Mettler-Toledo International by 7.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier's stock worth $166,000 after purchasing an additional 8 shares in the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Elisha W. Finney sold 76 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now owns 240 shares in the company, valued at $314,820. This represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.94% of the company's stock.

Wall Street Analyst Weigh In

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

Mettler-Toledo International Trading Up 0.6 %

Mettler-Toledo International stock traded up $7.80 during mid-day trading on Friday, hitting $1,251.20. The company had a trading volume of 74,430 shares, compared to its average volume of 181,300. The company has a market capitalization of $26.40 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 4.13 and a beta of 1.16. Mettler-Toledo International Inc. has a 12-month low of $1,068.33 and a 12-month high of $1,546.93. The company's fifty day moving average is $1,345.17 and its 200-day moving average is $1,392.37.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The firm had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. As a group, sell-side analysts expect that Mettler-Toledo International Inc. will post 40.42 EPS for the current fiscal year.

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.