Canoe Financial LP Trims Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Canoe Financial LP lowered its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 85.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,207 shares of the medical instruments supplier’s stock after selling 48,437 shares during the period. Canoe Financial LP’s holdings in Mettler-Toledo International were worth $12,137,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Family Firm Inc. purchased a new position in shares of Mettler-Toledo International during the second quarter worth $25,000. Blue Trust Inc. increased its stake in Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 17 shares during the period. Rothschild Investment LLC purchased a new position in shares of Mettler-Toledo International in the second quarter valued at approximately $42,000. Itau Unibanco Holding S.A. purchased a new stake in Mettler-Toledo International during the 2nd quarter worth approximately $42,000. Finally, Crewe Advisors LLC lifted its holdings in Mettler-Toledo International by 244.4% during the 2nd quarter. Crewe Advisors LLC now owns 31 shares of the medical instruments supplier’s stock worth $43,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Mettler-Toledo International Stock Down 0.0 %

Shares of MTD stock opened at $1,292.77 on Monday. The stock’s 50-day moving average price is $1,416.02 and its 200 day moving average price is $1,394.81. The stock has a market capitalization of $27.61 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.95 and a beta of 1.14. Mettler-Toledo International Inc. has a 52-week low of $928.49 and a 52-week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, topping the consensus estimate of $9.00 by $0.65. The business had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.19 earnings per share. Analysts expect that Mettler-Toledo International Inc. will post 40.34 earnings per share for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at approximately $6,884,514. This represents a 0.00 % 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. In other Mettler-Toledo International news, 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 value of $1,422,970.00. Following the sale, the insider now owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 250 shares of the stock in a transaction dated 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 in the company, valued at approximately $6,884,514. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Stifel Nicolaus lifted their price target on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group upped their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1,363.75.

Mettler-Toledo International Company 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.