Mettler-Toledo International, Inc. $MTD Position Trimmed by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 7.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,162 shares of the medical instruments supplier’s stock after selling 350 shares during the period. ProShare Advisors LLC’s holdings in Mettler-Toledo International were worth $6,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. XXEC Inc. purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter worth approximately $77,044,000. BlackRock Inc. acquired a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $2,404,713,000. Bank of New York Mellon Corp purchased a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $762,553,000. Wellington Management Group LLP grew its position in shares of Mettler-Toledo International by 908.6% in the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier’s stock valued at $586,459,000 after buying an additional 413,547 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Mettler-Toledo International during the 2nd quarter worth $240,817,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares in the company, valued at approximately $6,384,000. The trade was a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada started coverage on shares of Mettler-Toledo International in a research report on Tuesday, September 1st. They issued a “sector perform” rating and a $1,515.00 price target for the company. Barclays lifted their target price on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Morgan Stanley boosted their target price on Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the company an “equal weight” rating in a report on Tuesday, October 13th. Stifel Nicolaus upped their target price on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Rothschild & Co Redburn assumed coverage on Mettler-Toledo International in a research note on Wednesday, September 2nd. They set a “sell” rating and a $1,200.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1,469.15.

Mettler-Toledo International Stock Performance

Shares of Mettler-Toledo International stock opened at $1,723.17 on Thursday. The firm’s fifty day simple moving average is $1,512.80 and its 200-day simple moving average is $1,343.25. Mettler-Toledo International, Inc. has a 12 month low of $1,023.05 and a 12 month high of $1,737.99. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 3.42 and a beta of 1.16. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78.

About Mettler-Toledo International

Mettler-Toledo International Inc (NYSE: MTD) develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company’s laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.