Comerica Bank decreased its holdings in Mettler Toledo (NYSE:MTD) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,200 shares of the medical instruments supplier’s stock after selling 233 shares during the quarter. Comerica Bank’s holdings in Mettler Toledo were worth $4,157,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. USA Mutuals Advisors Inc. acquired a new stake in Mettler Toledo during the fourth quarter valued at approximately $101,000. Alps Advisors Inc. acquired a new stake in Mettler Toledo during the first quarter valued at approximately $202,000. Lourd Capital LLC acquired a new stake in Mettler Toledo during the fourth quarter valued at approximately $211,000. Quadrant Private Wealth Management LLC acquired a new stake in Mettler Toledo during the fourth quarter valued at approximately $232,000. Finally, Conning Inc. raised its stake in Mettler Toledo by 25.7% during the fourth quarter. Conning Inc. now owns 440 shares of the medical instruments supplier’s stock valued at $273,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 92.12% of the company’s stock.
In related news, insider William P. Donnelly sold 5,000 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $563.38, for a total value of $2,816,900.00. Following the completion of the transaction, the insider now directly owns 4,000 shares of the company’s stock, valued at approximately $2,253,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider La Guerroniere Marc De sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $640.00, for a total value of $1,920,000.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company’s stock, valued at $1,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 21,968 shares of company stock worth $13,142,739 over the last quarter. Insiders own 4.80% of the company’s stock.
Several analysts have issued reports on MTD shares. Goldman Sachs cut Mettler Toledo from a “buy” rating to a “neutral” rating in a research note on Monday, April 9th. Citigroup upgraded Mettler Toledo from a “neutral” rating to a “buy” rating and upped their price objective for the company from $685.00 to $692.00 in a research note on Friday, February 9th. Morgan Stanley cut their price objective on Mettler Toledo from $595.00 to $568.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 11th. Zacks Investment Research upgraded Mettler Toledo from a “hold” rating to a “buy” rating and set a $640.00 price objective on the stock in a research note on Wednesday, April 11th. Finally, Robert W. Baird cut their price objective on Mettler Toledo from $675.00 to $630.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Mettler Toledo currently has an average rating of “Hold” and an average target price of $632.00.
Shares of Mettler Toledo opened at $562.10 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.02 and a current ratio of 1.46. The company has a market cap of $14.13 billion, a PE ratio of 31.99, a P/E/G ratio of 2.13 and a beta of 1.21. Mettler Toledo has a twelve month low of $555.23 and a twelve month high of $560.86.
Mettler Toledo (NYSE:MTD) last announced its quarterly earnings results on Thursday, May 3rd. The medical instruments supplier reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.01. The business had revenue of $660.82 million for the quarter, compared to analysts’ expectations of $651.87 million. Mettler Toledo had a return on equity of 90.70% and a net margin of 13.50%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. research analysts expect that Mettler Toledo will post 20.25 EPS for the current year.
Mettler Toledo Company Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.
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