Patrick Kaltenbach Sells 942 Shares of Mettler-Toledo International (NYSE:MTD) Stock

Mettler-Toledo International, Inc. (NYSE:MTD) CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer owned 4,480 shares of the company’s stock, valued at approximately $6,384,000. The trade was a 17.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mettler-Toledo International Stock Down 2.2%

MTD stock opened at $1,374.47 on Wednesday. The company’s 50 day simple moving average is $1,354.48 and its 200-day simple moving average is $1,274.20. The firm has a market capitalization of $27.54 billion, a PE ratio of 30.94, a P/E/G ratio of 2.89 and a beta of 1.22. Mettler-Toledo International, Inc. has a 12 month low of $1,023.05 and a 12 month high of $1,525.17. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $10.09 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts expect that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MTD shares. Stifel Nicolaus boosted their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Royal Bank Of Canada started coverage on Mettler-Toledo International in a research note on Tuesday. They set a “sector perform” rating and a $1,515.00 price objective on the stock. Citigroup cut their target price on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wolfe Research assumed coverage on shares of Mettler-Toledo International in a report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1,465.75.

Hedge Funds Weigh In On Mettler-Toledo International

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LP grew its stake in shares of Mettler-Toledo International by 421.7% during the 2nd quarter. Corient Private Wealth LP now owns 26,147 shares of the medical instruments supplier’s stock valued at $33,402,000 after buying an additional 21,135 shares during the period. Principia Wealth Advisory LLC boosted its holdings in Mettler-Toledo International by 2,050.0% in the second quarter. Principia Wealth Advisory LLC now owns 43 shares of the medical instruments supplier’s stock valued at $55,000 after acquiring an additional 41 shares during the last quarter. Amundi boosted its holdings in Mettler-Toledo International by 40.7% in the second quarter. Amundi now owns 240,640 shares of the medical instruments supplier’s stock valued at $307,420,000 after acquiring an additional 69,620 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Mettler-Toledo International during the second quarter valued at about $16,366,000. Finally, California State Teachers Retirement System increased its stake in Mettler-Toledo International by 114,807.7% during the second quarter. California State Teachers Retirement System now owns 35,100,865 shares of the medical instruments supplier’s stock worth $44,841,706,000 after acquiring an additional 35,070,318 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.