Comgest Global Investors S.A.S. Sells 61,098 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Comgest Global Investors S.A.S. reduced its position in Mettler-Toledo International Inc. (NYSE:MTD) by 78.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,769 shares of the medical instruments supplier’s stock after selling 61,098 shares during the quarter. Comgest Global Investors S.A.S. owned approximately 0.08% of Mettler-Toledo International worth $25,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors lifted its position in Mettler-Toledo International by 15.1% in the first quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock worth $1,431,696,000 after purchasing an additional 141,431 shares during the period. PineStone Asset Management Inc. lifted its position in Mettler-Toledo International by 127.4% in the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock worth $362,855,000 after purchasing an additional 145,453 shares during the period. TD Asset Management Inc lifted its position in Mettler-Toledo International by 1.9% in the second quarter. TD Asset Management Inc now owns 157,247 shares of the medical instruments supplier’s stock worth $219,767,000 after purchasing an additional 2,866 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Mettler-Toledo International by 32.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 142,944 shares of the medical instruments supplier’s stock worth $199,777,000 after purchasing an additional 35,048 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Mettler-Toledo International by 88.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 122,655 shares of the medical instruments supplier’s stock worth $163,290,000 after purchasing an additional 57,509 shares during the period. 95.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MTD shares. JPMorgan Chase & Co. increased their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Robert W. Baird dropped their price objective on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Evercore ISI increased their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Stifel Nicolaus dropped their price objective on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1,338.75.

Mettler-Toledo International Price Performance

Shares of NYSE:MTD traded down $58.20 during midday trading on Friday, reaching $1,179.58. The company’s stock had a trading volume of 356,231 shares, compared to its average volume of 135,396. Mettler-Toledo International Inc. has a fifty-two week low of $1,041.49 and a fifty-two week high of $1,546.93. The company has a market capitalization of $24.89 billion, a P/E ratio of 31.80, a P/E/G ratio of 4.16 and a beta of 1.16. The business’s fifty day simple moving average is $1,382.02 and its 200-day simple moving average is $1,400.14.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. The company had revenue of $954.54 million during the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a negative return on equity of 531.78% and a net margin of 21.15%. On average, analysts forecast that Mettler-Toledo International Inc. will post 40.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Elisha W. Finney sold 76 shares of Mettler-Toledo International stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the sale, the director now directly owns 240 shares in the company, valued at $314,820. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.94% of the company’s stock.

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.