Welch & Forbes LLC Cuts Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Welch & Forbes LLC trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,309 shares of the medical instruments supplier's stock after selling 425 shares during the period. Welch & Forbes LLC owned about 0.29% of Mettler-Toledo International worth $75,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTD. State Street Corp lifted its stake in Mettler-Toledo International by 1.0% in the 3rd quarter. State Street Corp now owns 954,653 shares of the medical instruments supplier's stock valued at $1,431,693,000 after acquiring an additional 9,009 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Mettler-Toledo International by 0.8% in the third quarter. Geode Capital Management LLC now owns 547,439 shares of the medical instruments supplier's stock valued at $818,906,000 after purchasing an additional 4,166 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Mettler-Toledo International by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 274,563 shares of the medical instruments supplier's stock worth $335,977,000 after purchasing an additional 33,456 shares in the last quarter. Barclays PLC boosted its holdings in Mettler-Toledo International by 8.3% during the third quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier's stock worth $384,822,000 after purchasing an additional 19,609 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Mettler-Toledo International by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier's stock valued at $332,634,000 after purchasing an additional 28,478 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on MTD. Wolfe Research began coverage on shares of Mettler-Toledo International in a research report on Friday, December 13th. They set a "peer perform" rating on the stock. Evercore ISI increased their price target on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an "equal weight" rating in a research report on Monday, February 10th. Robert W. Baird increased their price objective on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, Citigroup lowered their target price on shares of Mettler-Toledo International from $1,450.00 to $1,400.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Mettler-Toledo International presently has a consensus rating of "Hold" and an average price target of $1,380.50.

Mettler-Toledo International Price Performance

Shares of MTD traded down $51.20 during trading hours on Tuesday, hitting $1,243.20. 196,004 shares of the stock were exchanged, compared to its average volume of 141,517. The firm has a market capitalization of $26.00 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 3.30 and a beta of 1.15. Mettler-Toledo International Inc. has a fifty-two week low of $1,142.91 and a fifty-two week high of $1,546.93. The business has a 50-day moving average of $1,295.29 and a 200-day moving average of $1,322.43.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. As a group, analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the transaction, the insider now directly owns 734 shares of the company's stock, valued at approximately $964,248.46. This trade represents a 51.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerry Keller sold 600 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the sale, the insider now directly owns 6 shares of the company's stock, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Mettler-Toledo International 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.