Point72 Asset Management L.P. Trims Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Point72 Asset Management L.P. trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 83.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,053 shares of the medical instruments supplier's stock after selling 31,651 shares during the period. Point72 Asset Management L.P.'s holdings in Mettler-Toledo International were worth $9,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Investment Management Corp of Ontario raised its position in Mettler-Toledo International by 70.1% in the third quarter. Investment Management Corp of Ontario now owns 728 shares of the medical instruments supplier's stock worth $1,092,000 after acquiring an additional 300 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Mettler-Toledo International by 80.0% in the third quarter. Itau Unibanco Holding S.A. now owns 54 shares of the medical instruments supplier's stock valued at $81,000 after buying an additional 24 shares during the period. ClearAlpha Technologies LP grew its stake in shares of Mettler-Toledo International by 43.7% during the 3rd quarter. ClearAlpha Technologies LP now owns 352 shares of the medical instruments supplier's stock worth $528,000 after acquiring an additional 107 shares during the period. Benjamin Edwards Inc. purchased a new stake in Mettler-Toledo International during the third quarter valued at about $289,000. Finally, Edgestream Partners L.P. boosted its position in Mettler-Toledo International by 1,270.6% during the third quarter. Edgestream Partners L.P. now owns 3,262 shares of the medical instruments supplier's stock worth $4,892,000 after purchasing an additional 3,024 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Mettler-Toledo International news, insider Gerry Keller sold 140 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total value of $175,572.60. Following the transaction, the insider now owns 6 shares in the company, valued at approximately $7,524.54. The trade was a 95.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 240 shares of the company's stock, valued at approximately $314,820. This trade represents a 24.05 % 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.

Analyst Ratings Changes

A number of analysts recently commented on MTD shares. Wells Fargo & Company dropped 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 research note on Monday, November 11th. Evercore ISI lifted their price target 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. Stifel Nicolaus reduced their target price 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, Robert W. Baird reduced their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1,338.75.

Mettler-Toledo International Trading Up 0.8 %

Shares of MTD traded up $10.02 during midday trading on Friday, reaching $1,257.92. The stock had a trading volume of 108,515 shares, compared to its average volume of 168,228. The company has a market capitalization of $26.54 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 4.17 and a beta of 1.13. Mettler-Toledo International Inc. has a 12-month low of $1,086.88 and a 12-month high of $1,546.93. The company's 50-day moving average is $1,326.16 and its 200 day moving average is $1,383.15.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, topping the consensus estimate 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. Research analysts forecast 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.