PDT Partners LLC Sells 1,214 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

PDT Partners LLC lowered its position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 58.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 876 shares of the medical instruments supplier's stock after selling 1,214 shares during the quarter. PDT Partners LLC's holdings in Mettler-Toledo International were worth $1,314,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the firm's stock in a transaction on Monday, November 11th. The stock was 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 in the company, valued at $314,820. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD traded up $9.64 during trading hours on Monday, reaching $1,260.84. 99,472 shares of the stock were exchanged, compared to its average volume of 136,732. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 4.13 and a beta of 1.16. The stock's fifty day simple moving average is $1,342.27 and its 200 day simple moving average is $1,390.47. Mettler-Toledo International Inc. has a 52 week low of $1,068.33 and a 52 week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping the consensus estimate of $10.00 by $0.21. The firm had revenue of $954.54 million for the quarter, compared to analysts' expectations of $941.93 million. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. Research analysts predict that Mettler-Toledo International Inc. will post 40.42 EPS for the current fiscal year.

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.