Duality Advisers LP Lowers Position in Mettler-Toledo International Inc. (NYSE:MTD)

Duality Advisers LP cut its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,154 shares of the medical instruments supplier’s stock after selling 191 shares during the quarter. Duality Advisers LP’s holdings in Mettler-Toledo International were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Comerica Bank purchased a new position in Mettler-Toledo International during the 3rd quarter valued at about $5,100,000. Public Sector Pension Investment Board boosted its holdings in Mettler-Toledo International by 10.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,342 shares of the medical instruments supplier’s stock valued at $2,595,000 after acquiring an additional 228 shares during the period. American Century Companies Inc. raised its position in Mettler-Toledo International by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 145,911 shares of the medical instruments supplier’s stock valued at $161,680,000 after purchasing an additional 40,599 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Mettler-Toledo International by 46.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 238 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 75 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Mettler-Toledo International in the 4th quarter valued at about $79,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, Director Thomas P. Salice sold 1,268 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,490.18, for a total transaction of $1,889,548.24. Following the sale, the director now directly owns 244 shares in the company, valued at $363,603.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Mettler-Toledo International news, insider Christian Magloth sold 1,100 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the sale, the insider now directly owns 734 shares in the company, valued at $1,079,691.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas P. Salice sold 1,268 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,490.18, for a total value of $1,889,548.24. Following the completion of the transaction, the director now directly owns 244 shares of the company’s stock, valued at $363,603.92. The disclosure for this sale can be found here. Insiders have sold a total of 3,278 shares of company stock worth $4,871,849 over the last three months. 1.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTD shares. Citigroup increased their price target on Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a “sell” rating in a research report on Monday, May 13th. The Goldman Sachs Group raised their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday. Robert W. Baird raised their target price on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Jefferies Financial Group reissued an “underperform” rating and set a $1,250.00 target price (up previously from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Finally, Evercore ISI lifted their price target on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Mettler-Toledo International presently has an average rating of “Hold” and an average target price of $1,301.25.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $8.78 during midday trading on Friday, hitting $1,366.96. The company had a trading volume of 51,918 shares, compared to its average volume of 144,921. The company’s 50 day simple moving average is $1,418.97 and its 200 day simple moving average is $1,301.79. Mettler-Toledo International Inc. has a 52-week low of $928.49 and a 52-week high of $1,535.86. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 3.55 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, beating the consensus estimate of $7.61 by $1.28. Mettler-Toledo International had a negative return on equity of 662.32% and a net margin of 20.55%. The company had revenue of $925.95 million for the quarter, compared to the consensus estimate of $879.72 million. During the same period last year, the business posted $8.69 EPS. The company’s revenue was down .3% on a year-over-year basis. Analysts anticipate that Mettler-Toledo International Inc. will post 40.13 EPS for the current 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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.