Avity Investment Management Inc. Sells 4,775 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Avity Investment Management Inc. lessened its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 92.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 371 shares of the medical instruments supplier’s stock after selling 4,775 shares during the period. Avity Investment Management Inc.’s holdings in Mettler-Toledo International were worth $438,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTD. GAMMA Investing LLC grew its position in shares of Mettler-Toledo International by 131,246.3% in the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock valued at $456,018,000 after buying an additional 385,864 shares during the last quarter. Norges Bank bought a new stake in shares of Mettler-Toledo International during the 4th quarter valued at about $372,954,000. Proficio Capital Partners LLC bought a new stake in shares of Mettler-Toledo International during the 4th quarter valued at about $163,216,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Mettler-Toledo International by 36.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock valued at $444,327,000 after purchasing an additional 96,300 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Mettler-Toledo International by 53.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier’s stock valued at $262,211,000 after purchasing an additional 74,187 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Analyst Upgrades and Downgrades

MTD has been the topic of several research analyst reports. Wall Street Zen lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Jefferies Financial Group upgraded Mettler-Toledo International from an “underperform” rating to a “hold” rating and cut their target price for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Evercore ISI upped their target price on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Wells Fargo & Company upped their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, Robert W. Baird cut their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1,302.11.

Insider Transactions at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the completion of the sale, the director now directly owns 120 shares of the company’s stock, valued at $139,191.60. This represents a 89.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,163.45 on Friday. The stock’s 50 day simple moving average is $1,091.77 and its 200 day simple moving average is $1,204.66. Mettler-Toledo International Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,546.93. The company has a market cap of $24.18 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.30 and a beta of 1.38.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. The business had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. During the same period in the prior year, the business earned $8.89 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Mettler-Toledo International 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.