Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 49.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,721 shares of the medical instruments supplier’s stock after selling 2,659 shares during the period. Canada Pension Plan Investment Board’s holdings in Mettler-Toledo International were worth $3,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. grew its position in Mettler-Toledo International by 9.9% during the 4th quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier’s stock worth $713,627,000 after purchasing an additional 52,726 shares in the last quarter. Geode Capital Management LLC boosted its position in Mettler-Toledo International by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier’s stock worth $682,340,000 after acquiring an additional 11,032 shares during the period. Norges Bank purchased a new position in Mettler-Toledo International during the 4th quarter valued at about $372,954,000. Principal Financial Group Inc. increased its holdings in shares of Mettler-Toledo International by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 274,563 shares of the medical instruments supplier’s stock valued at $335,977,000 after purchasing an additional 33,456 shares during the period. Finally, Barclays PLC lifted its position in shares of Mettler-Toledo International by 8.3% in the third quarter. Barclays PLC now owns 256,602 shares of the medical instruments supplier’s stock worth $384,822,000 after purchasing an additional 19,609 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on Mettler-Toledo International from $1,400.00 to $1,125.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Evercore ISI lifted their target price on shares of 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 cut their price target on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Citigroup upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 price objective for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1,304.25.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,004.51 on Wednesday. Mettler-Toledo International Inc. has a fifty-two week low of $946.69 and a fifty-two week high of $1,546.93. The firm has a fifty day moving average price of $1,172.72 and a two-hundred day moving average price of $1,253.42. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 3.30 and a beta of 1.28.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In other news, insider Christian Magloth sold 790 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the sale, the insider now owns 734 shares of the company’s stock, valued at approximately $964,248.46. This trade represents a 51.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerry Keller sold 600 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following 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.

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.