Axxcess Wealth Management LLC Sells 747 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Axxcess Wealth Management LLC cut its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 50.4% in the first quarter, Holdings Channel reports. The institutional investor owned 735 shares of the medical instruments supplier’s stock after selling 747 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mettler-Toledo International were worth $978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of Mettler-Toledo International by 169.4% in the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after purchasing an additional 360,786 shares in the last quarter. Norges Bank bought a new position in shares of Mettler-Toledo International in the fourth quarter valued at about $320,847,000. Principal Financial Group Inc. lifted its position in shares of Mettler-Toledo International by 65.4% during the fourth quarter. Principal Financial Group Inc. now owns 241,219 shares of the medical instruments supplier’s stock worth $292,589,000 after purchasing an additional 95,421 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Mettler-Toledo International by 109,458.1% during the fourth quarter. International Assets Investment Management LLC now owns 67,926 shares of the medical instruments supplier’s stock valued at $82,392,000 after purchasing an additional 67,864 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in Mettler-Toledo International by 854.0% in the 4th quarter. Corient Private Wealth LLC now owns 74,707 shares of the medical instruments supplier’s stock valued at $90,617,000 after buying an additional 66,876 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTD has been the subject of several recent research reports. Stifel Nicolaus upped their target price on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the company a “buy” rating in a research report on Monday, May 13th. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Citigroup increased their price target 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. Robert W. Baird boosted their price target on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, The Goldman Sachs Group increased 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,301.25.

Insider Transactions at Mettler-Toledo International

In related news, insider Christian Magloth sold 1,100 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 734 shares of the company’s stock, valued at $1,079,691.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Mettler-Toledo International news, insider Christian Magloth sold 1,100 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the sale, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas P. Salice sold 1,268 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total value of $1,889,548.24. Following the completion of the transaction, the director now owns 244 shares of the company’s stock, valued at $363,603.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,278 shares of company stock valued at $4,871,849. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Up 2.8 %

Shares of NYSE MTD traded up $39.08 during mid-day trading on Friday, reaching $1,450.08. 175,004 shares of the company were exchanged, compared to its average volume of 144,362. The stock has a market capitalization of $30.97 billion, a P/E ratio of 40.62, a P/E/G ratio of 3.71 and a beta of 1.17. The company’s 50-day simple moving average is $1,416.86 and its 200-day simple moving average is $1,313.96. Mettler-Toledo International Inc. has a twelve month low of $928.49 and a twelve month high of $1,535.86.

Mettler-Toledo International (NYSE:MTD) last announced 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 firm had revenue of $925.95 million for the quarter, compared to analyst estimates of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.69 EPS. As a group, equities research analysts expect that Mettler-Toledo International Inc. will post 40.13 EPS for the current year.

Mettler-Toledo International 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.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.