KBC Group NV Decreases Position in Mettler-Toledo International Inc. (NYSE:MTD)

KBC Group NV trimmed its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 34.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,053 shares of the medical instruments supplier’s stock after selling 6,420 shares during the quarter. KBC Group NV owned about 0.06% of Mettler-Toledo International worth $18,076,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Mettler-Toledo International in the third quarter worth about $357,000. Verus Capital Partners LLC boosted its stake in Mettler-Toledo International by 11.2% during the third quarter. Verus Capital Partners LLC now owns 218 shares of the medical instruments supplier’s stock valued at $327,000 after buying an additional 22 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Mettler-Toledo International by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,216 shares of the medical instruments supplier’s stock valued at $72,310,000 after purchasing an additional 698 shares in the last quarter. Versor Investments LP purchased a new position in shares of Mettler-Toledo International in the 3rd quarter worth $1,755,000. Finally, Venturi Wealth Management LLC raised its position in Mettler-Toledo International by 47.7% during the third quarter. Venturi Wealth Management LLC now owns 384 shares of the medical instruments supplier’s stock valued at $576,000 after purchasing an additional 124 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Mettler-Toledo International Stock Down 4.7 %

Shares of NYSE:MTD opened at $1,179.58 on Friday. Mettler-Toledo International Inc. has a 52-week low of $1,041.49 and a 52-week high of $1,546.93. The stock has a market cap of $24.89 billion, a P/E ratio of 31.80, a PEG ratio of 4.16 and a beta of 1.16. The business has a fifty day moving average of $1,385.96 and a two-hundred day moving average of $1,400.67.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The business had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. On average, equities analysts anticipate that Mettler-Toledo International Inc. will post 40.37 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In other news, Director Elisha W. Finney sold 76 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the transaction, the director now directly owns 240 shares in the company, valued at $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.94% of the company’s stock.

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.