ProShare Advisors LLC Sells 565 Shares of Mettler-Toledo International, Inc. (MTD)
ProShare Advisors LLC decreased its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,779 shares of the medical instruments supplier’s stock after selling 565 shares during the quarter. ProShare Advisors LLC’s holdings in Mettler-Toledo International were worth $3,401,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Personal Financial Services boosted its position in shares of Mettler-Toledo International by 2.8% during the 2nd quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. Israel Discount Bank of New York acquired a new position in shares of Mettler-Toledo International during the 1st quarter worth about $102,000. TLP Group LLC acquired a new position in shares of Mettler-Toledo International during the 1st quarter worth about $144,000. CAPROCK Group Inc. acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $205,000. Finally, Personal Capital Advisors Corp acquired a new position in shares of Mettler-Toledo International during the 2nd quarter worth about $206,000. Institutional investors own 93.18% of the company’s stock.
In related news, insider Waldemar Rauch sold 2,203 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $594.27, for a total value of $1,309,176.81. Following the completion of the sale, the insider now directly owns 7,771 shares of the company’s stock, valued at $4,618,072.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William P. Donnelly sold 2,845 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $576.92, for a total value of $1,641,337.40. Following the completion of the sale, the insider now directly owns 2,345 shares of the company’s stock, valued at $1,352,877.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,356 shares of company stock worth $16,150,829. Corporate insiders own 5.20% of the company’s stock.
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Several research analysts have recently issued reports on MTD shares. Bank of America Corporation upped their price objective on Mettler-Toledo International from $590.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $664.00 price objective for the company in a research report on Thursday, June 22nd. BidaskClub cut Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $565.00 price objective (up from $533.00) on shares of Mettler-Toledo International in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Mettler-Toledo International currently has an average rating of “Buy” and an average target price of $575.20.
Mettler-Toledo International, Inc. (NYSE MTD) opened at 632.86 on Friday. Mettler-Toledo International, Inc. has a 52-week low of $394.49 and a 52-week high of $636.54. The stock’s 50 day moving average price is $595.61 and its 200 day moving average price is $557.43. The firm has a market capitalization of $16.24 billion, a PE ratio of 38.92 and a beta of 1.11.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.89 by $0.03. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The business had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. During the same period in the previous year, the company earned $3.22 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that Mettler-Toledo International, Inc. will post $17.33 earnings per share for the current year.
About Mettler-Toledo International
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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