PineStone Asset Management Inc. Sells 94,123 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

PineStone Asset Management Inc. trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 36.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 165,506 shares of the medical instruments supplier’s stock after selling 94,123 shares during the period. Mettler-Toledo International makes up about 2.4% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. PineStone Asset Management Inc. owned 0.77% of Mettler-Toledo International worth $248,209,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MTD. Wealth Enhancement Advisory Services LLC boosted its holdings in Mettler-Toledo International by 16.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,144 shares of the medical instruments supplier’s stock valued at $1,523,000 after purchasing an additional 165 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Mettler-Toledo International by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 51,994 shares of the medical instruments supplier’s stock valued at $69,219,000 after buying an additional 357 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Mettler-Toledo International by 23.4% in the first quarter. First Trust Direct Indexing L.P. now owns 1,249 shares of the medical instruments supplier’s stock valued at $1,663,000 after acquiring an additional 237 shares during the period. Commonwealth Equity Services LLC raised its stake in Mettler-Toledo International by 5.5% during the first quarter. Commonwealth Equity Services LLC now owns 753 shares of the medical instruments supplier’s stock worth $1,002,000 after acquiring an additional 39 shares in the last quarter. Finally, Norden Group LLC raised its stake in Mettler-Toledo International by 74.3% during the first quarter. Norden Group LLC now owns 413 shares of the medical instruments supplier’s stock worth $550,000 after acquiring an additional 176 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Stifel Nicolaus upped their price objective on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Evercore ISI lifted their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company began coverage on Mettler-Toledo International in a report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1,363.75.

Insider Buying and Selling

In other news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at approximately $6,884,514. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the transaction, the chief financial officer now owns 4,914 shares in the company, valued at $6,884,514. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Mettler-Toledo International Price Performance

MTD stock opened at $1,291.75 on Friday. The stock has a market capitalization of $27.41 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 3.81 and a beta of 1.14. The company has a 50 day moving average price of $1,405.26 and a 200 day moving average price of $1,393.58. Mettler-Toledo International Inc. has a fifty-two week low of $953.28 and a fifty-two week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, topping the consensus estimate of $9.00 by $0.65. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The company had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. During the same quarter in the previous year, the company earned $10.19 EPS. Mettler-Toledo International’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Mettler-Toledo International Inc. will post 40.34 earnings per share 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.