Canoe Financial LP Reduces Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Canoe Financial LP trimmed its position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 85.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,207 shares of the medical instruments supplier's stock after selling 48,437 shares during the quarter. Canoe Financial LP's holdings in Mettler-Toledo International were worth $12,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth approximately $25,000. Blue Trust Inc. boosted its stake in Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier's stock worth $34,000 after buying an additional 17 shares during the last quarter. Rothschild Investment LLC acquired a new position in Mettler-Toledo International during the second quarter worth $42,000. Itau Unibanco Holding S.A. purchased a new stake in Mettler-Toledo International in the 2nd quarter valued at $42,000. Finally, Crewe Advisors LLC increased its stake in shares of Mettler-Toledo International by 244.4% in the 2nd quarter. Crewe Advisors LLC now owns 31 shares of the medical instruments supplier's stock worth $43,000 after acquiring an additional 22 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTD has been the subject of a number of research analyst reports. StockNews.com upgraded Mettler-Toledo International from a "hold" rating to a "buy" rating in a report on Thursday, July 11th. Evercore ISI boosted their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 1st. Stifel Nicolaus boosted their target price on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a "buy" rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price objective on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Mettler-Toledo International has a consensus rating of "Hold" and a consensus price target of $1,363.75.

Mettler-Toledo International Stock Performance

NYSE:MTD traded up $2.15 during mid-day trading on Monday, reaching $1,294.92. The stock had a trading volume of 132,672 shares, compared to its average volume of 132,770. Mettler-Toledo International Inc. has a twelve month low of $928.49 and a twelve month high of $1,546.93. The business has a 50 day simple moving average of $1,416.02 and a 200 day simple moving average of $1,394.81. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 3.95 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.65. The firm had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $10.19 earnings per share. As a group, sell-side analysts expect that Mettler-Toledo International Inc. will post 40.34 earnings per share for the current year.

Insider Activity

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at approximately $6,884,514. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares of the company's stock, valued at $6,884,514. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

About Mettler-Toledo International

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.