PineStone Asset Management Inc. Sells 8,818 Shares of Mettler-Toledo International, Inc. $MTD

PineStone Asset Management Inc. trimmed its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,302 shares of the medical instruments supplier’s stock after selling 8,818 shares during the period. Mettler-Toledo International accounts for approximately 3.2% of PineStone Asset Management Inc.’s holdings, making the stock its 12th largest holding. PineStone Asset Management Inc.’s holdings in Mettler-Toledo International were worth $479,427,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MTD. Whipplewood Advisors LLC acquired a new position in Mettler-Toledo International in the first quarter worth $25,000. Reflection Asset Management bought a new stake in shares of Mettler-Toledo International during the fourth quarter worth $26,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Mettler-Toledo International during the second quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Mettler-Toledo International in the second quarter valued at $32,000. Finally, Root Financial Partners LLC increased its stake in shares of Mettler-Toledo International by 45.5% in the first quarter. Root Financial Partners LLC now owns 32 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 10 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on Mettler-Toledo International in a report on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 price target for the company. Wells Fargo & Company upped 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 report on Monday, August 3rd. Stifel Nicolaus increased their price objective on shares of 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. Jefferies Financial Group raised their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, UBS Group started coverage on shares of Mettler-Toledo International in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $1,460.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1,469.15.

Insider Transactions at Mettler-Toledo International

In other news, CEO Patrick Kaltenbach sold 942 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 4,480 shares in the company, valued at $6,384,000. The trade was a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Salice sold 417 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total value of $600,650.97. Following the transaction, the director directly owned 292 shares in the company, valued at $420,599.72. This trade represents a 58.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,254 shares of company stock worth $6,092,712. Insiders own 0.71% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,619.63 on Friday. The company has a 50 day moving average price of $1,442.37 and a 200 day moving average price of $1,314.00. Mettler-Toledo International, Inc. has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,659.70. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The stock has a market capitalization of $32.46 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 3.27 and a beta of 1.19.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.78 by $0.68. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $10.09 EPS. Analysts forecast that Mettler-Toledo International, Inc. will post 47.37 EPS for the current year.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a global manufacturer of precision instruments and related services used in laboratory, industrial, food processing, pharmaceutical and retail applications. The company’s solutions help customers measure, analyze, inspect and control materials and products throughout research, manufacturing and distribution processes.

Its product portfolio includes laboratory balances and scales, analytical instruments, automated chemistry systems, titrators, density and refractometry equipment, process analytics, industrial weighing systems, product inspection technologies and retail weighing and labeling solutions.