Envestnet Asset Management Inc. Cuts Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Envestnet Asset Management Inc. lessened its position in Mettler-Toledo International Inc. (NYSE:MTD) by 77.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,430 shares of the medical instruments supplier’s stock after selling 51,936 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Mettler-Toledo International worth $18,881,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Mettler-Toledo International by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after purchasing an additional 28,478 shares in the last quarter. M&T Bank Corp grew its stake in Mettler-Toledo International by 14.3% during the 3rd quarter. M&T Bank Corp now owns 4,926 shares of the medical instruments supplier’s stock valued at $7,387,000 after acquiring an additional 615 shares in the last quarter. Allworth Financial LP lifted its stake in Mettler-Toledo International by 367.4% in the 4th quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier’s stock worth $285,000 after purchasing an additional 169 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Mettler-Toledo International by 29.8% during the 4th quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier’s stock worth $129,919,000 after purchasing an additional 24,285 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Mettler-Toledo International by 18.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,370 shares of the medical instruments supplier’s stock valued at $42,058,000 after purchasing an additional 5,234 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on MTD. Citigroup upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price for the company in a report on Monday, April 7th. Robert W. Baird boosted their target price on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Wells Fargo & Company raised their price target on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Finally, Evercore ISI increased their price objective on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,380.50.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,083.14 on Tuesday. The stock has a market capitalization of $22.57 billion, a PE ratio of 26.72, a P/E/G ratio of 3.30 and a beta of 1.28. The company’s 50-day simple moving average is $1,212.28 and its 200-day simple moving average is $1,271.57. Mettler-Toledo International Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 EPS for the quarter, topping the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. On average, sell-side analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Gerry Keller sold 600 shares of Mettler-Toledo International stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the completion of the sale, the insider now directly owns 6 shares of the company’s stock, valued at $8,108.04. The trade was a 99.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christian Magloth sold 790 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the sale, the insider now directly owns 734 shares in the company, valued at $964,248.46. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. 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.