Congress Asset Management Co. Has $2.03 Million Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

by · The Markets Daily

Congress Asset Management Co. trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD – Free Report) by 21.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,350 shares of the medical instruments supplier’s stock after selling 373 shares during the period. Congress Asset Management Co.’s holdings in Mettler-Toledo International were worth $2,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MTD. Daiwa Securities Group Inc. boosted its holdings in shares of Mettler-Toledo International by 36.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,682 shares of the medical instruments supplier’s stock worth $3,570,000 after buying an additional 719 shares during the period. BNP Paribas Financial Markets grew its position in Mettler-Toledo International by 6.2% during the 1st quarter. BNP Paribas Financial Markets now owns 28,128 shares of the medical instruments supplier’s stock worth $37,447,000 after purchasing an additional 1,636 shares in the last quarter. Gateway Investment Advisers LLC purchased a new position in Mettler-Toledo International during the 2nd quarter worth approximately $685,000. Mediolanum International Funds Ltd acquired a new stake in Mettler-Toledo International during the 1st quarter valued at $2,169,000. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Mettler-Toledo International by 132.3% in the first quarter. Capstone Investment Advisors LLC now owns 985 shares of the medical instruments supplier’s stock valued at $1,311,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Stock Up 3.9 %

Shares of MTD opened at $1,342.09 on Friday. Mettler-Toledo International Inc. has a 12 month low of $953.28 and a 12 month high of $1,546.93. The company’s fifty day moving average is $1,403.38 and its 200-day moving average is $1,394.26. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 3.81 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.65. The company had revenue of $946.75 million for the quarter, compared to analyst estimates of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $10.19 earnings per share. As a group, research analysts predict that Mettler-Toledo International Inc. will post 40.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTD has been the subject of several research analyst reports. StockNews.com raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Evercore ISI boosted their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1,363.75.

Get Our Latest Stock Analysis on MTD

Insider Activity

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 4,914 shares in the company, valued at $6,884,514. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the business’s 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 transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian Magloth sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Mettler-Toledo International Company Profile

(Free Report)

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.

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