Millennium Management LLC Sells 15,352 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Millennium Management LLC cut its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 46.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,536 shares of the medical instruments supplier’s stock after selling 15,352 shares during the quarter. Millennium Management LLC’s holdings in Mettler-Toledo International were worth $24,508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors lifted its holdings in Mettler-Toledo International by 15.1% during the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock worth $1,431,696,000 after purchasing an additional 141,431 shares during the last quarter. PineStone Asset Management Inc. lifted its position in shares of Mettler-Toledo International by 127.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after acquiring an additional 145,453 shares during the period. Principal Financial Group Inc. raised its stake in Mettler-Toledo International by 2.8% in the first quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock valued at $330,169,000 after purchasing an additional 6,788 shares in the last quarter. TD Asset Management Inc lifted its position in Mettler-Toledo International by 1.9% during the second quarter. TD Asset Management Inc now owns 157,247 shares of the medical instruments supplier’s stock worth $219,767,000 after purchasing an additional 2,866 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Mettler-Toledo International by 32.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier’s stock worth $199,777,000 after buying an additional 35,048 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MTD has been the subject of several research analyst reports. JPMorgan Chase & Co. upped 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 note on Monday, August 5th. The Goldman Sachs Group raised their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Wells Fargo & Company started coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 target price for the company. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Evercore ISI upped their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and an average price target of $1,363.75.

Mettler-Toledo International Stock Performance

Shares of MTD stock opened at $1,463.40 on Friday. The firm’s 50-day simple moving average is $1,425.23 and its two-hundred day simple moving average is $1,384.82. Mettler-Toledo International Inc. has a 52 week low of $928.49 and a 52 week high of $1,546.93. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 3.75 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last issued 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. The business had revenue of $946.75 million for the quarter, compared to analysts’ expectations of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.19 EPS. Analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current year.

Insider Buying and Selling at Mettler-Toledo International

In related news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was 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 $6,884,514. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction on 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 sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction 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 $1,044,459.98. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

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.