Davis R M Inc. reduced its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 77,001 shares of the medical instruments supplier’s stock after selling 2,951 shares during the period. Mettler-Toledo International comprises about 1.9% of Davis R M Inc.’s investment portfolio, making the stock its 8th biggest holding. Davis R M Inc.’s holdings in Mettler-Toledo International were worth $47,704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Bank of Australia lifted its position in shares of Mettler-Toledo International by 3.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 562 shares of the medical instruments supplier’s stock valued at $329,000 after acquiring an additional 17 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Mettler-Toledo International by 2.6% during the 2nd quarter. Profund Advisors LLC now owns 716 shares of the medical instruments supplier’s stock valued at $421,000 after acquiring an additional 18 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of Mettler-Toledo International by 4.9% during the 2nd quarter. Suntrust Banks Inc. now owns 900 shares of the medical instruments supplier’s stock valued at $529,000 after acquiring an additional 42 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Mettler-Toledo International by 12.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 585 shares of the medical instruments supplier’s stock valued at $344,000 after acquiring an additional 65 shares during the last quarter. Finally, Coastline Trust Co lifted its position in shares of Mettler-Toledo International by 16.2% during the 3rd quarter. Coastline Trust Co now owns 575 shares of the medical instruments supplier’s stock valued at $360,000 after acquiring an additional 80 shares during the last quarter. 91.67% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Simon Kirk sold 4,726 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $629.01, for a total value of $2,972,701.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William P. Donnelly sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $630.02, for a total transaction of $6,300,200.00. The disclosure for this sale can be found here. Insiders sold 39,969 shares of company stock valued at $25,242,999 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.
Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, November 2nd. The medical instruments supplier reported $4.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.32 by $0.04. The company had revenue of $698.80 million during the quarter, compared to analyst estimates of $685.56 million. Mettler-Toledo International had a return on equity of 96.81% and a net margin of 16.44%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.89 earnings per share. equities analysts expect that Mettler-Toledo International Inc. will post 17.52 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and set a $535.00 price objective (down previously from $565.00) on shares of Mettler-Toledo International in a research report on Friday, October 6th. Goldman Sachs Group reiterated a “buy” rating and set a $690.00 price objective on shares of Mettler-Toledo International in a research report on Tuesday, September 26th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $711.00 price objective for the company in a research report on Thursday, September 21st. Evercore ISI assumed coverage on Mettler-Toledo International in a report on Wednesday, January 3rd. They issued an “in-line” rating and a $625.00 target price for the company. Finally, Jefferies Group restated a “hold” rating and issued a $600.00 target price on shares of Mettler-Toledo International in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Mettler-Toledo International presently has an average rating of “Hold” and a consensus price target of $622.33.
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Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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