PineStone Asset Management Inc. Cuts Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

PineStone Asset Management Inc. cut its holdings in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 36.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,506 shares of the medical instruments supplier's stock after selling 94,123 shares during the period. Mettler-Toledo International accounts for 2.4% of PineStone Asset Management Inc.'s portfolio, making the stock its 17th largest holding. PineStone Asset Management Inc. owned 0.77% of Mettler-Toledo International worth $248,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors lifted its position in Mettler-Toledo International by 15.1% during the first quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier's stock valued at $1,431,696,000 after purchasing an additional 141,431 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Mettler-Toledo International by 1.9% during the 2nd quarter. TD Asset Management Inc now owns 157,247 shares of the medical instruments supplier's stock valued at $219,767,000 after acquiring an additional 2,866 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Mettler-Toledo International by 32.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier's stock worth $199,777,000 after acquiring an additional 35,048 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mettler-Toledo International by 88.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier's stock valued at $163,290,000 after purchasing an additional 57,509 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. increased its stake in shares of Mettler-Toledo International by 0.4% in the first quarter. Williams Jones Wealth Management LLC. now owns 116,784 shares of the medical instruments supplier's stock worth $155,473,000 after purchasing an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MTD shares. JPMorgan Chase & Co. upped 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 report on Monday, August 5th. The Goldman Sachs Group lifted their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 9th. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They set an "equal weight" rating and a $1,400.00 price objective for the company. Evercore ISI boosted their target price on shares of 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. Finally, Stifel Nicolaus upped their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Two investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $1,363.75.

Mettler-Toledo International Stock Performance

NYSE MTD traded up $50.34 during trading on Friday, hitting $1,342.09. The stock had a trading volume of 173,842 shares, compared to its average volume of 132,531. Mettler-Toledo International Inc. has a one year low of $953.28 and a one year high of $1,546.93. The stock has a 50 day simple moving average of $1,405.26 and a 200 day simple moving average of $1,393.58. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 3.81 and a beta of 1.14.

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

Insider Activity

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