Engineers Gate Manager LP Sells 3,036 Shares of Mettler-Toledo International, Inc. $MTD

Engineers Gate Manager LP decreased its position in Mettler-Toledo International, Inc. (NYSE:MTD) by 33.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,175 shares of the medical instruments supplier’s stock after selling 3,036 shares during the quarter. Engineers Gate Manager LP’s holdings in Mettler-Toledo International were worth $7,889,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MTD. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Mettler-Toledo International in the 1st quarter valued at approximately $26,372,000. Fifth Third Bancorp lifted its holdings in shares of Mettler-Toledo International by 377.3% during the first quarter. Fifth Third Bancorp now owns 4,181 shares of the medical instruments supplier’s stock worth $5,272,000 after buying an additional 3,305 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of Mettler-Toledo International in the first quarter valued at approximately $15,889,000. Assenagon Asset Management S.A. increased its position in Mettler-Toledo International by 161.1% during the second quarter. Assenagon Asset Management S.A. now owns 33,608 shares of the medical instruments supplier’s stock worth $42,935,000 after acquiring an additional 20,736 shares during the period. Finally, Wellington Management Group LLP raised its stake in Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after purchasing an additional 413,547 shares during the last quarter. 95.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on MTD shares. Wells Fargo & Company upped their price objective on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Barclays upped their price target on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Stifel Nicolaus raised their price objective on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Morgan Stanley lifted their price objective on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Mettler-Toledo International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average price target of $1,446.36.

Mettler-Toledo International Stock Performance

NYSE:MTD opened at $1,280.76 on Friday. The firm has a market capitalization of $25.67 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. Mettler-Toledo International, Inc. has a 12-month low of $1,023.05 and a 12-month high of $1,525.17. The firm has a 50-day moving average price of $1,363.52 and a 200 day moving average price of $1,272.42.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $10.09 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Gerry Keller sold 240 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the transaction, the insider directly owned 259 shares in the company, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shawn Vadala sold 2,240 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the completion of the sale, the chief financial officer owned 5,579 shares in the company, valued at $7,989,128. This represents a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 4,254 shares of company stock valued at $6,092,712. 0.71% of the stock is currently owned by insiders.

About Mettler-Toledo International

Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.

The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.