PineStone Asset Management Inc. Has $248.21 Million Stake in Mettler-Toledo International Inc. (NYSE:MTD)

PineStone Asset Management Inc. reduced its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 36.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 165,506 shares of the medical instruments supplier’s stock after selling 94,123 shares during the quarter. Mettler-Toledo International accounts for about 2.4% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 17th biggest holding. PineStone Asset Management Inc.’s holdings in Mettler-Toledo International were worth $248,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MTD. Daiwa Securities Group Inc. lifted its stake in shares of Mettler-Toledo International by 36.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,682 shares of the medical instruments supplier’s stock worth $3,570,000 after buying an additional 719 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Mettler-Toledo International by 6.2% during the first quarter. BNP Paribas Financial Markets now owns 28,128 shares of the medical instruments supplier’s stock worth $37,447,000 after acquiring an additional 1,636 shares during the period. Gateway Investment Advisers LLC bought a new position in shares of Mettler-Toledo International during the second quarter worth approximately $685,000. Mediolanum International Funds Ltd bought a new stake in Mettler-Toledo International in the 1st quarter valued at $2,169,000. Finally, Capstone Investment Advisors LLC increased its position in Mettler-Toledo International by 132.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 985 shares of the medical instruments supplier’s stock worth $1,311,000 after buying an additional 561 shares during the period. 95.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MTD shares. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus increased their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company assumed coverage on Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price target for the company. The Goldman Sachs Group lifted their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised 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 report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1,363.75.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the sale, the chief financial officer now owns 4,914 shares in the company, valued at approximately $6,884,514. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Down 0.8 %

NYSE:MTD opened at $1,291.75 on Friday. The firm has a market capitalization of $27.41 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 3.81 and a beta of 1.14. Mettler-Toledo International Inc. has a twelve month low of $953.28 and a twelve month high of $1,546.93. The stock’s 50-day simple moving average is $1,405.26 and its 200 day simple moving average is $1,393.58.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.65. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The company had revenue of $946.75 million for the quarter, compared to analyst estimates of $929.13 million. During the same period in the previous year, the firm posted $10.19 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International Inc. will post 40.34 EPS for the current fiscal 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.