Mettler Toledo (MTD) Position Cut by Comerica Bank

Comerica Bank trimmed its holdings in Mettler Toledo (NYSE:MTD) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the medical instruments supplier’s stock after selling 233 shares during the quarter. Comerica Bank’s holdings in Mettler Toledo were worth $4,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MTD. Conning Inc. boosted its stake in Mettler Toledo by 25.7% during the 4th quarter. Conning Inc. now owns 440 shares of the medical instruments supplier’s stock valued at $273,000 after purchasing an additional 90 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Mettler Toledo by 4.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 2,500 shares of the medical instruments supplier’s stock valued at $1,549,000 after purchasing an additional 100 shares in the last quarter. Global X Management Co. LLC boosted its stake in Mettler Toledo by 7.8% during the 1st quarter. Global X Management Co. LLC now owns 1,461 shares of the medical instruments supplier’s stock valued at $840,000 after purchasing an additional 106 shares in the last quarter. Advisor Group Inc. boosted its stake in Mettler Toledo by 6.9% during the 4th quarter. Advisor Group Inc. now owns 1,770 shares of the medical instruments supplier’s stock valued at $1,097,000 after purchasing an additional 115 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in Mettler Toledo by 16.9% during the 4th quarter. Suntrust Banks Inc. now owns 922 shares of the medical instruments supplier’s stock valued at $570,000 after purchasing an additional 133 shares in the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.

MTD has been the subject of a number of research reports. Zacks Investment Research raised Mettler Toledo from a “hold” rating to a “buy” rating and set a $640.00 price target for the company in a research note on Wednesday, April 11th. Bank of America decreased their price target on Mettler Toledo from $710.00 to $640.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Citigroup raised Mettler Toledo from a “neutral” rating to a “buy” rating and increased their price target for the company from $685.00 to $692.00 in a research note on Friday, February 9th. Morgan Stanley raised their price objective on Mettler Toledo from $550.00 to $580.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Finally, Deutsche Bank reduced their price objective on Mettler Toledo from $630.00 to $610.00 and set a “hold” rating for the company in a research note on Friday, May 4th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Mettler Toledo currently has an average rating of “Hold” and a consensus price target of $632.00.

In other news, insider Michael Heidingsfelder sold 1,400 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $630.58, for a total value of $882,812.00. Following the completion of the sale, the insider now owns 1,400 shares in the company, valued at $882,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William P. Donnelly sold 5,000 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $563.38, for a total value of $2,816,900.00. Following the completion of the sale, the insider now owns 4,000 shares of the company’s stock, valued at approximately $2,253,520. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,968 shares of company stock valued at $13,142,739. Corporate insiders own 4.80% of the company’s stock.

MTD opened at $562.10 on Friday. The firm has a market cap of $14.13 billion, a PE ratio of 31.99, a P/E/G ratio of 2.13 and a beta of 1.21. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.46 and a quick ratio of 1.02. Mettler Toledo has a fifty-two week low of $555.23 and a fifty-two week high of $560.86.

Mettler Toledo (NYSE:MTD) last released its quarterly earnings data on Thursday, May 3rd. The medical instruments supplier reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.01. The business had revenue of $660.82 million during the quarter, compared to analyst estimates of $651.87 million. Mettler Toledo had a return on equity of 90.70% and a net margin of 13.50%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $3.34 EPS. equities research analysts forecast that Mettler Toledo will post 20.25 earnings per share for the current fiscal year.

Mettler Toledo Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.

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Institutional Ownership by Quarter for Mettler Toledo (NYSE:MTD)

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