National Bank of Canada FI lowered its position in Mettler-Toledo International Inc. (NYSE:MTD – Get Rating) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,334 shares of the medical instruments supplier’s stock after selling 2,359 shares during the period. National Bank of Canada FI owned about 0.06% of Mettler-Toledo International worth $20,711,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Park Avenue Securities LLC increased its holdings in Mettler-Toledo International by 9.2% during the fourth quarter. Park Avenue Securities LLC now owns 1,097 shares of the medical instruments supplier’s stock worth $1,586,000 after buying an additional 92 shares during the last quarter. Xponance Inc. increased its holdings in Mettler-Toledo International by 8.1% during the fourth quarter. Xponance Inc. now owns 4,831 shares of the medical instruments supplier’s stock worth $6,983,000 after buying an additional 362 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in Mettler-Toledo International during the fourth quarter worth about $292,000. Connable Office Inc. increased its holdings in Mettler-Toledo International by 1.3% during the fourth quarter. Connable Office Inc. now owns 601 shares of the medical instruments supplier’s stock worth $869,000 after buying an additional 8 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Mettler-Toledo International by 9.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,144 shares of the medical instruments supplier’s stock worth $18,999,000 after buying an additional 1,141 shares during the last quarter. Hedge funds and other institutional investors own 91.94% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Mettler-Toledo International in a report on Thursday, March 16th. They set a “buy” rating for the company. Citigroup increased their target price on shares of Mettler-Toledo International from $1,350.00 to $1,525.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Robert W. Baird increased their target price on shares of Mettler-Toledo International from $1,284.00 to $1,513.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. JPMorgan Chase & Co. upgraded shares of Mettler-Toledo International from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $1,100.00 to $1,350.00 in a research report on Monday, December 19th. Finally, Wells Fargo & Company increased their target price on shares of Mettler-Toledo International from $1,650.00 to $1,675.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $1,450.71.
Mettler-Toledo International Price Performance
Mettler-Toledo International (NYSE:MTD – Get Rating) last released its quarterly earnings data on Friday, February 10th. The medical instruments supplier reported $12.10 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $0.47. Mettler-Toledo International had a net margin of 22.26% and a return on equity of 10,609.85%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $10.53 earnings per share. Mettler-Toledo International’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Mettler-Toledo International Inc. will post 44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Mettler-Toledo International news, Director Wah-Hui Chu sold 300 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $1,450.00, for a total value of $435,000.00. Following the completion of the transaction, the director now owns 4,290 shares of the company’s stock, valued at approximately $6,220,500. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robert F. Spoerry sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $1,565.00, for a total value of $1,565,000.00. Following the completion of the sale, the director now directly owns 6,548 shares in the company, valued at approximately $10,247,620. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wah-Hui Chu sold 300 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $1,450.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now owns 4,290 shares of the company’s stock, valued at $6,220,500. The disclosure for this sale can be found here. Insiders sold a total of 18,022 shares of company stock valued at $26,391,416 in the last quarter. Corporate insiders own 2.80% of the company’s stock.
About Mettler-Toledo International
Mettler-Toledo International, Inc engages in the provision of precision instruments and services. The firm manufactures weighing instruments for use in laboratory, industrial, packaging, logistics, and food retailing applications. It also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development, metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications.
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