Bank of Montreal Can Reduces Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Bank of Montreal Can lowered its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 33.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,078 shares of the medical instruments supplier’s stock after selling 14,769 shares during the period. Bank of Montreal Can owned approximately 0.14% of Mettler-Toledo International worth $43,004,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Mettler-Toledo International during the second quarter valued at approximately $25,000. Blue Trust Inc. grew its position in shares of Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after buying an additional 17 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Mettler-Toledo International during the third quarter worth approximately $37,000. Rothschild Investment LLC acquired a new stake in shares of Mettler-Toledo International during the second quarter worth approximately $42,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Mettler-Toledo International during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Insider Activity

In other news, Director Elisha W. Finney sold 76 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the completion of the transaction, the director now owns 240 shares of the company’s stock, valued at approximately $314,820. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,243.40 on Friday. The company has a market cap of $26.24 billion, a PE ratio of 33.52, a P/E/G ratio of 4.04 and a beta of 1.16. The company has a fifty day moving average price of $1,348.27 and a two-hundred day moving average price of $1,395.43. Mettler-Toledo International Inc. has a 12 month low of $1,059.08 and a 12 month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The company had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Equities research analysts anticipate that Mettler-Toledo International Inc. will post 40.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MTD shares. Wells Fargo & Company decreased their price target on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Evercore ISI raised their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Robert W. Baird decreased their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Stifel Nicolaus decreased their price target on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1,338.75.

About Mettler-Toledo International

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.