Edgestream Partners L.P. Has $333,000 Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Edgestream Partners L.P. trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 75.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238 shares of the medical instruments supplier’s stock after selling 719 shares during the quarter. Edgestream Partners L.P.’s holdings in Mettler-Toledo International were worth $333,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at about $25,000. Family Firm Inc. acquired a new stake in shares of Mettler-Toledo International in the second quarter valued at about $25,000. Spartan Planning & Wealth Management acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at about $27,000. Bellevue Group AG acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at about $30,000. Finally, Mather Group LLC. acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at about $32,000. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Down 0.0 %

Shares of MTD opened at $1,405.90 on Tuesday. Mettler-Toledo International Inc. has a 12 month low of $928.49 and a 12 month high of $1,546.93. The company has a 50-day moving average price of $1,409.58 and a two-hundred day moving average price of $1,376.57. The stock has a market cap of $30.03 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $10.19 earnings per share. Mettler-Toledo International’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts expect that Mettler-Toledo International Inc. will post 40.35 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the transaction, the insider now owns 734 shares in the company, valued at $1,044,459.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at approximately $6,884,514. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTD. The Goldman Sachs Group lifted their target price on 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. Evercore ISI lifted their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1,356.25.

Mettler-Toledo International 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.