Fred Alger Management LLC Sells 1,288 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Fred Alger Management LLC decreased its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 25.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,759 shares of the medical instruments supplier’s stock after selling 1,288 shares during the period. Fred Alger Management LLC’s holdings in Mettler-Toledo International were worth $5,637,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in Mettler-Toledo International by 8.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 7 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Mettler-Toledo International by 6.6% in the second quarter. UMB Bank n.a. now owns 113 shares of the medical instruments supplier’s stock worth $158,000 after buying an additional 7 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Mettler-Toledo International by 7.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier’s stock valued at $166,000 after buying an additional 8 shares during the last quarter. DT Investment Partners LLC increased its position in shares of Mettler-Toledo International by 13.3% during the third quarter. DT Investment Partners LLC now owns 68 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 8 shares in the last quarter. Finally, Suncoast Equity Management raised its holdings in Mettler-Toledo International by 2.0% in the 3rd quarter. Suncoast Equity Management now owns 460 shares of the medical instruments supplier’s stock worth $690,000 after acquiring an additional 9 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company dropped their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Evercore ISI lifted their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Stifel Nicolaus lowered their target price on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Robert W. Baird reduced their price target 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 analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,338.75.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the sale, the director now owns 240 shares in the company, valued at $314,820. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.94% of the stock is owned by insiders.

Mettler-Toledo International Stock Up 0.6 %

Mettler-Toledo International stock opened at $1,251.20 on Friday. The business has a 50-day simple moving average of $1,345.17 and a two-hundred day simple moving average of $1,393.26. Mettler-Toledo International Inc. has a 52-week low of $1,068.33 and a 52-week high of $1,546.93. The company has a market cap of $26.40 billion, a P/E ratio of 33.73, a P/E/G ratio of 4.10 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. The business had revenue of $954.54 million during the quarter, compared to analysts’ expectations of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. Research analysts anticipate that Mettler-Toledo International Inc. will post 40.39 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.