Azzad Asset Management Inc. ADV Sells 56 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Azzad Asset Management Inc. ADV trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,109 shares of the medical instruments supplier’s stock after selling 56 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Mettler-Toledo International were worth $4,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eisler Capital UK Ltd. acquired a new position in shares of Mettler-Toledo International in the 4th quarter valued at $770,000. Daiwa Securities Group Inc. raised its position in Mettler-Toledo International by 36.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,682 shares of the medical instruments supplier’s stock worth $3,570,000 after purchasing an additional 719 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mettler-Toledo International by 9.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 144,015 shares of the medical instruments supplier’s stock worth $174,684,000 after purchasing an additional 12,249 shares during the period. Capital International Investors lifted its stake in Mettler-Toledo International by 3.0% during the fourth quarter. Capital International Investors now owns 933,989 shares of the medical instruments supplier’s stock worth $1,132,891,000 after purchasing an additional 27,386 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Mettler-Toledo International during the fourth quarter valued at approximately $1,654,000. 95.07% of the stock is owned by institutional investors.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded up $7.85 during midday trading on Friday, reaching $1,439.08. The company’s stock had a trading volume of 113,912 shares, compared to its average volume of 139,169. The business’s fifty day simple moving average is $1,401.66 and its 200-day simple moving average is $1,354.01. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,546.93. The company has a market capitalization of $30.73 billion, a P/E ratio of 40.36, a P/E/G ratio of 4.06 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating 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 590.80%. The firm had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. During the same quarter last year, the company posted $10.19 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Mettler-Toledo International Inc. will post 40.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTD. Jefferies Financial Group reissued an “underperform” rating and issued a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Evercore ISI increased their price objective on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Stifel Nicolaus lifted their price objective on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company initiated coverage on shares of Mettler-Toledo International in a report on Tuesday. They issued an “equal weight” rating and a $1,400.00 target price on the stock. Finally, The Goldman Sachs Group increased 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 research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International has an average rating of “Hold” and a consensus price target of $1,356.25.

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.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.