Prudential Financial Inc. Sells 1,355 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Prudential Financial Inc. trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,391 shares of the medical instruments supplier’s stock after selling 1,355 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Mettler-Toledo International worth $15,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after buying an additional 28,478 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of 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 during the last quarter. Allworth Financial LP grew its stake in shares of Mettler-Toledo International by 367.4% in the fourth quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier’s stock worth $285,000 after acquiring an additional 169 shares during the period. Nordea Investment Management AB raised its holdings in shares of Mettler-Toledo International by 29.8% during the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier’s stock valued at $129,919,000 after purchasing an additional 24,285 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Mettler-Toledo International by 18.0% during 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 period. Institutional investors own 95.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christian Magloth sold 790 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the completion of the transaction, the insider now owns 734 shares in the company, valued at approximately $964,248.46. This represents a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gerry Keller sold 600 shares of Mettler-Toledo International stock in a transaction on Monday, February 10th. The shares were 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 owns 6 shares in the company, valued at approximately $8,108.04. This represents a 99.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup decreased their target price on shares of Mettler-Toledo International from $1,450.00 to $1,400.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wolfe Research began coverage on Mettler-Toledo International in a report on Friday, December 13th. They issued a “peer perform” rating on the stock. Evercore ISI boosted their price target on 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. Robert W. Baird increased their price objective on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company upped their target price on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1,380.50.

Mettler-Toledo International Price Performance

MTD opened at $1,196.10 on Friday. Mettler-Toledo International Inc. has a 1-year low of $1,142.91 and a 1-year high of $1,546.93. The company has a 50 day simple moving average of $1,286.23 and a two-hundred day simple moving average of $1,305.58. The firm has a market cap of $24.93 billion, a P/E ratio of 29.51, a PEG ratio of 3.30 and a beta of 1.15.

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, beating analysts’ consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. Equities analysts anticipate that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Mettler-Toledo International Company Profile

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.