Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 77.9% during the third quarter, Holdings Channel reports. The firm owned 855 shares of the medical instruments supplier’s stock after selling 3,011 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Mettler-Toledo International were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in Mettler-Toledo International during the 1st quarter worth about $317,000. Cetera Advisors LLC raised its holdings in shares of Mettler-Toledo International by 8.0% during the first quarter. Cetera Advisors LLC now owns 459 shares of the medical instruments supplier’s stock valued at $611,000 after acquiring an additional 34 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Mettler-Toledo International by 8.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 95 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 7 shares in the last quarter. GAMMA Investing LLC boosted its stake in Mettler-Toledo International by 70.5% in the 2nd quarter. GAMMA Investing LLC now owns 225 shares of the medical instruments supplier’s stock worth $314,000 after purchasing an additional 93 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in Mettler-Toledo International by 7.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 119 shares of the medical instruments supplier’s stock worth $166,000 after purchasing an additional 8 shares in the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Elisha W. Finney sold 76 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the completion of the sale, the director now owns 240 shares in the company, valued at approximately $314,820. This represents a 24.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of NYSE MTD opened at $1,251.20 on Monday. The business has a 50 day simple moving average of $1,345.17 and a 200 day simple moving average of $1,392.37. Mettler-Toledo International Inc. has a 52 week low of $1,068.33 and a 52 week high of $1,546.93. The stock has a market cap of $26.40 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 4.13 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, topping the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. On average, analysts predict that Mettler-Toledo International Inc. will post 40.42 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTD. Evercore ISI increased their target price on 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. Wells Fargo & Company decreased their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Robert W. Baird reduced their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1,338.75.

About Mettler-Toledo International

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.