Oak Ridge Investments LLC Sells 10 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Oak Ridge Investments LLC cut its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 2.6% in the first quarter, Holdings Channel.com reports. The firm owned 380 shares of the medical instruments supplier’s stock after selling 10 shares during the period. Oak Ridge Investments LLC’s holdings in Mettler-Toledo International were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MTD. GAMMA Investing LLC boosted its holdings in Mettler-Toledo International by 131,246.3% in the 1st quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock valued at $456,018,000 after purchasing an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Mettler-Toledo International by 36.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock valued at $444,327,000 after purchasing an additional 96,300 shares during the period. Nuveen LLC bought a new position in shares of Mettler-Toledo International during the 1st quarter worth about $71,897,000. Northern Trust Corp lifted its holdings in shares of Mettler-Toledo International by 23.6% during the 4th quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier’s stock worth $308,006,000 after acquiring an additional 48,027 shares during the period. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Mettler-Toledo International by 60.4% during the 1st quarter. AustralianSuper Pty Ltd now owns 114,986 shares of the medical instruments supplier’s stock worth $135,788,000 after acquiring an additional 43,313 shares during the period. 95.07% of the stock is owned by institutional investors.

Mettler-Toledo International Stock Down 0.7%

Shares of Mettler-Toledo International stock opened at $1,315.16 on Friday. The stock has a market capitalization of $27.09 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 3.97 and a beta of 1.34. The company has a 50-day simple moving average of $1,213.03 and a 200 day simple moving average of $1,190.73. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,521.01.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.58 by $0.51. The business had revenue of $983.22 million during the quarter, compared to analysts’ expectations of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $9.65 EPS. On average, equities analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTD. Bank of America raised their price objective on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Evercore ISI reduced their price objective on shares of Mettler-Toledo International from $1,280.00 to $1,275.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Robert W. Baird raised their price objective on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Wells Fargo & Company raised their price objective on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Jefferies Financial Group raised shares of Mettler-Toledo International from an “underperform” rating to a “hold” rating and reduced their price objective for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and an average target price of $1,288.89.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $1,254.09, for a total value of $376,227.00. Following the completion of the sale, the chief financial officer owned 5,095 shares in the company, valued at approximately $6,389,588.55. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Kelly sold 1,062 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the completion of the sale, the director owned 120 shares of the company’s stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

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.