Davis R M Inc. Lowers Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Davis R M Inc. trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,406 shares of the medical instruments supplier’s stock after selling 1,309 shares during the quarter. Mettler-Toledo International comprises approximately 1.1% of Davis R M Inc.’s holdings, making the stock its 28th biggest position. Davis R M Inc. owned about 0.19% of Mettler-Toledo International worth $59,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTD. Daiwa Securities Group Inc. increased its stake in shares of Mettler-Toledo International by 36.4% in the third quarter. Daiwa Securities Group Inc. now owns 4,733 shares of the medical instruments supplier’s stock worth $7,099,000 after purchasing an additional 1,263 shares in the last quarter. Larson Financial Group LLC increased its stake in Mettler-Toledo International by 10.9% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the medical instruments supplier’s stock worth $429,000 after buying an additional 28 shares in the last quarter. Algert Global LLC bought a new stake in Mettler-Toledo International during the third quarter valued at about $4,807,000. Canopy Partners LLC bought a new stake in Mettler-Toledo International during the third quarter valued at about $204,000. Finally, Cerity Partners LLC grew its position in shares of Mettler-Toledo International by 43.1% during the third quarter. Cerity Partners LLC now owns 3,218 shares of the medical instruments supplier’s stock worth $4,826,000 after purchasing an additional 970 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Insider Activity

In related news, Director Elisha W. Finney sold 76 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the sale, the director now owns 240 shares in the company, valued at approximately $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MTD shares. JPMorgan Chase & Co. upped their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Evercore ISI upped their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Robert W. Baird decreased their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Stifel Nicolaus reduced their target price on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price target on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,338.75.

Mettler-Toledo International Price Performance

Shares of NYSE MTD opened at $1,217.97 on Monday. The stock has a market capitalization of $25.70 billion, a P/E ratio of 32.84, a PEG ratio of 4.02 and a beta of 1.16. Mettler-Toledo International Inc. has a 1-year low of $1,059.08 and a 1-year high of $1,546.93. The business’s 50 day moving average is $1,361.85 and its two-hundred day moving average is $1,399.98.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The firm had revenue of $954.54 million during the quarter, compared to analyst estimates of $941.93 million. As a group, equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.39 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.