Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. cut its position in Mettler-Toledo International Inc. (NYSE:MTD) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 940 shares of the medical instruments supplier’s stock after selling 109 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Mettler-Toledo International were worth $1,251,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Mettler-Toledo International by 32.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 900 shares of the medical instruments supplier’s stock valued at $1,198,000 after purchasing an additional 219 shares during the period. Suncoast Equity Management boosted its position in shares of Mettler-Toledo International by 6.2% in the 1st quarter. Suncoast Equity Management now owns 427 shares of the medical instruments supplier’s stock valued at $568,000 after purchasing an additional 25 shares during the period. Jennison Associates LLC acquired a new stake in shares of Mettler-Toledo International in the 1st quarter valued at about $429,000. Daiwa Securities Group Inc. boosted its position in shares of Mettler-Toledo International by 36.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,682 shares of the medical instruments supplier’s stock valued at $3,570,000 after purchasing an additional 719 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Mettler-Toledo International by 2.6% in the 1st quarter. Nordea Investment Management AB now owns 81,670 shares of the medical instruments supplier’s stock valued at $109,631,000 after purchasing an additional 2,031 shares during the period. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $16.10 during trading hours on Wednesday, reaching $1,324.10. 131,302 shares of the company’s stock were exchanged, compared to its average volume of 145,820. The company has a market cap of $28.28 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 3.57 and a beta of 1.17. The company’s 50 day moving average is $1,415.41 and its two-hundred day moving average is $1,301.25. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,535.86.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.61 by $1.28. The business had revenue of $925.95 million during the quarter, compared to the consensus estimate of $879.72 million. Mettler-Toledo International had a negative return on equity of 662.32% and a net margin of 20.55%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $8.69 EPS. As a group, analysts predict that Mettler-Toledo International Inc. will post 40.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MTD shares. Citigroup upped their target price on Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a “sell” rating in a research report on Monday, May 13th. Evercore ISI increased their price objective on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. The Goldman Sachs Group increased their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1,301.25.

Insider Activity at Mettler-Toledo International

In related news, insider Christian Magloth sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $1,470.97, for a total value of $1,618,067.00. Following the completion of the transaction, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,079,691.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christian Magloth sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $1,470.97, for a total value of $1,618,067.00. Following the completion of the transaction, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,079,691.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The disclosure for this sale can be found here. Insiders sold 3,278 shares of company stock valued at $4,871,849 in the last ninety days. Corporate 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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.