Welch & Forbes LLC Sells 1,028 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Welch & Forbes LLC cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 63,931 shares of the medical instruments supplier’s stock after selling 1,028 shares during the period. Mettler-Toledo International makes up approximately 1.2% of Welch & Forbes LLC’s holdings, making the stock its 26th largest holding. Welch & Forbes LLC’s holdings in Mettler-Toledo International were worth $77,546,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MTD. MV Capital Management Inc. grew its stake in shares of Mettler-Toledo International by 162.5% during the 4th quarter. MV Capital Management Inc. now owns 21 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 13 shares during the period. CVA Family Office LLC bought a new position in Mettler-Toledo International in the 4th quarter worth approximately $27,000. MCF Advisors LLC boosted its stake in Mettler-Toledo International by 285.7% in the 4th quarter. MCF Advisors LLC now owns 27 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 20 shares during the period. Allworth Financial LP boosted its stake in Mettler-Toledo International by 100.0% in the 4th quarter. Allworth Financial LP now owns 32 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 16 shares during the period. Finally, Operose Advisors LLC bought a new position in Mettler-Toledo International in the 3rd quarter worth approximately $43,000. 95.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 400 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total transaction of $511,492.00. Following the transaction, the insider now owns 734 shares in the company, valued at $938,587.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Elisha W. Finney sold 251 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $1,177.35, for a total transaction of $295,514.85. Following the sale, the director now owns 316 shares of the company’s stock, valued at $372,042.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christian Magloth sold 400 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the sale, the insider now directly owns 734 shares in the company, valued at approximately $938,587.82. The disclosure for this sale can be found here. Insiders have sold a total of 951 shares of company stock worth $1,170,256 over the last quarter. Company insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MTD shares. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Evercore ISI increased their target price on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1,233.25.

Mettler-Toledo International Stock Performance

MTD stock traded down $1.15 during midday trading on Monday, reaching $1,250.80. The company’s stock had a trading volume of 202,780 shares, compared to its average volume of 138,127. The stock has a fifty day simple moving average of $1,280.92 and a two-hundred day simple moving average of $1,186.11. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,427.04. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.42 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Friday, February 9th. The medical instruments supplier reported $9.40 earnings per share for the quarter, missing analysts’ consensus estimates of $10.32 by ($0.92). Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. The business had revenue of $934.90 million during the quarter, compared to analysts’ expectations of $959.45 million. During the same quarter in the previous year, the business earned $12.10 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, analysts forecast that Mettler-Toledo International Inc. will post 39.9 EPS for the current fiscal 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.