Pictet Asset Management Holding SA Has $17.30 Million Stake in Mettler-Toledo International, Inc. $MTD

Pictet Asset Management Holding SA lessened its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,408 shares of the medical instruments supplier’s stock after selling 2,332 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Mettler-Toledo International were worth $17,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp raised its holdings in Mettler-Toledo International by 2,813.6% in the 4th quarter. M&T Bank Corp now owns 124,205 shares of the medical instruments supplier’s stock valued at $173,165,000 after acquiring an additional 119,942 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Mettler-Toledo International during the 3rd quarter worth $121,021,000. Alliancebernstein L.P. increased its position in shares of Mettler-Toledo International by 10.7% in the third quarter. Alliancebernstein L.P. now owns 793,927 shares of the medical instruments supplier’s stock worth $974,633,000 after purchasing an additional 76,478 shares during the period. Thrivent Financial for Lutherans raised its stake in Mettler-Toledo International by 752.2% in the third quarter. Thrivent Financial for Lutherans now owns 73,586 shares of the medical instruments supplier’s stock valued at $90,335,000 after purchasing an additional 64,951 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Mettler-Toledo International by 56.8% in the third quarter. Bank of America Corp DE now owns 128,116 shares of the medical instruments supplier’s stock valued at $157,276,000 after purchasing an additional 46,402 shares in the last quarter. 95.07% of the stock is owned by institutional investors.

Insider Activity at Mettler-Toledo International

In other news, CFO Shawn Vadala sold 800 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1,410.12, for a total transaction of $1,128,096.00. Following the completion of the sale, the chief financial officer directly owned 5,288 shares in the company, valued at $7,456,714.56. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Mettler-Toledo International Stock Performance

NYSE MTD opened at $1,270.10 on Friday. The firm’s fifty day moving average price is $1,280.49 and its two-hundred day moving average price is $1,367.11. The stock has a market cap of $25.72 billion, a PE ratio of 30.15, a PEG ratio of 2.68 and a beta of 1.31. Mettler-Toledo International, Inc. has a fifty-two week low of $1,049.21 and a fifty-two week high of $1,525.17.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Friday, February 6th. The medical instruments supplier reported $13.36 EPS for the quarter, beating analysts’ consensus estimates of $12.76 by $0.60. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mettler-Toledo International had a negative return on equity of 495.07% and a net margin of 21.59%.Mettler-Toledo International’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $12.41 EPS. As a group, sell-side analysts predict that Mettler-Toledo International, Inc. will post 46.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTD. Jefferies Financial Group upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1,400.00 to $1,450.00 in a research note on Friday, March 20th. Barclays cut their price target on shares of Mettler-Toledo International from $1,550.00 to $1,500.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Wall Street Zen raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Morgan Stanley dropped their price objective on Mettler-Toledo International from $1,550.00 to $1,475.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International has a consensus rating of “Moderate Buy” and an average price target of $1,459.58.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.