Vestcor Inc Acquires 409 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Vestcor Inc raised its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 40.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,425 shares of the medical instruments supplier's stock after purchasing an additional 409 shares during the period. Vestcor Inc's holdings in Mettler-Toledo International were worth $2,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its stake in Mettler-Toledo International by 9.4% during the second quarter. QRG Capital Management Inc. now owns 350 shares of the medical instruments supplier's stock worth $489,000 after buying an additional 30 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Mettler-Toledo International by 5.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 555 shares of the medical instruments supplier's stock valued at $775,000 after purchasing an additional 27 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Mettler-Toledo International by 1.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,158 shares of the medical instruments supplier's stock valued at $1,619,000 after purchasing an additional 14 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Mettler-Toledo International during the second quarter worth approximately $802,000. Finally, Parsons Capital Management Inc. RI increased its holdings in Mettler-Toledo International by 7.2% in the second quarter. Parsons Capital Management Inc. RI now owns 2,681 shares of the medical instruments supplier's stock worth $3,747,000 after purchasing an additional 180 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

Shares of MTD stock traded down $0.06 during trading hours on Wednesday, reaching $1,270.63. The company had a trading volume of 79,597 shares, compared to its average volume of 135,796. The company has a market cap of $26.81 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 4.15 and a beta of 1.13. Mettler-Toledo International Inc. has a 12 month low of $1,103.73 and a 12 month high of $1,546.93. The business has a fifty day simple moving average of $1,317.66 and a 200-day simple moving average of $1,380.29.

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

Analyst Upgrades and Downgrades

MTD has been the subject of several research analyst reports. 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 for the company in a research note on Monday, November 11th. Wells Fargo & Company decreased their price target on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Evercore ISI increased 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 decreased 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 research report on Monday, November 11th. Finally, Citigroup upgraded Mettler-Toledo International from a "sell" rating to a "neutral" rating and increased their price target for the stock from $1,200.00 to $1,300.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $1,351.25.

Insider Buying and Selling at Mettler-Toledo International

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 directly owns 6 shares in the company, valued at $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 is available through the SEC website. Also, Director Elisha W. Finney sold 76 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 240 shares of the company's stock, valued at approximately $314,820. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Company 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.