Bank of America Corp DE Reduces Position in Mettler-Toledo International Inc. (NYSE:MTD)

Bank of America Corp DE lessened its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,431 shares of the medical instruments supplier’s stock after selling 1,894 shares during the period. Bank of America Corp DE’s holdings in Mettler-Toledo International were worth $55,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MTD. SBI Securities Co. Ltd. purchased a new stake in Mettler-Toledo International in the 4th quarter valued at about $33,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $44,000. Blue Trust Inc. boosted its holdings in shares of Mettler-Toledo International by 70.8% in the fourth quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 17 shares during the period. Whipplewood Advisors LLC bought a new position in Mettler-Toledo International in the fourth quarter worth approximately $54,000. Finally, Sound Income Strategies LLC raised its position in Mettler-Toledo International by 4,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier’s stock valued at $56,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MTD shares. StockNews.com downgraded Mettler-Toledo International from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Wells Fargo & Company increased their target price on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Citigroup raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a research report on Monday, April 7th. Evercore ISI increased their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group raised shares of Mettler-Toledo International from an “underperform” rating to a “hold” rating and cut their price objective for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,296.13.

Insider Activity

In related news, insider Christian Magloth sold 790 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Trading Up 0.7%

NYSE MTD opened at $1,182.90 on Wednesday. The firm’s fifty day simple moving average is $1,115.19 and its two-hundred day simple moving average is $1,221.37. The firm has a market capitalization of $24.58 billion, a P/E ratio of 29.19, a P/E/G ratio of 3.30 and a beta of 1.40. Mettler-Toledo International Inc. has a 12-month low of $946.69 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $883.74 million for the quarter, compared to the consensus estimate of $876.61 million. During the same period in the previous year, the business earned $8.89 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.

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.