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

Comgest Global Investors S.A.S. lowered its position in Mettler-Toledo International Inc. (NYSE:MTD) by 78.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,769 shares of the medical instruments supplier’s stock after selling 61,098 shares during the period. Comgest Global Investors S.A.S.’s holdings in Mettler-Toledo International were worth $25,148,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Mizuho Securities USA LLC increased its position in shares of Mettler-Toledo International by 807.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 14,970 shares of the medical instruments supplier’s stock valued at $22,451,000 after buying an additional 13,320 shares in the last quarter. Empirical Finance LLC increased its holdings in Mettler-Toledo International by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 764 shares of the medical instruments supplier’s stock worth $1,146,000 after purchasing an additional 16 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Mettler-Toledo International by 7.8% during the 3rd quarter. CIBC Asset Management Inc now owns 3,107 shares of the medical instruments supplier’s stock worth $4,660,000 after purchasing an additional 224 shares in the last quarter. Metis Global Partners LLC increased its holdings in Mettler-Toledo International by 7.7% during the 3rd quarter. Metis Global Partners LLC now owns 1,833 shares of the medical instruments supplier’s stock worth $2,749,000 after purchasing an additional 131 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Mettler-Toledo International by 20.0% during the 3rd quarter. Huntington National Bank now owns 54 shares of the medical instruments supplier’s stock worth $81,000 after purchasing an additional 9 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Trading Down 4.7 %

Shares of NYSE MTD traded down $58.20 during mid-day trading on Friday, hitting $1,179.58. The company had a trading volume of 356,231 shares, compared to its average volume of 135,396. Mettler-Toledo International Inc. has a one year low of $1,041.49 and a one year high of $1,546.93. The company has a market capitalization of $24.89 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 4.16 and a beta of 1.16. The firm has a 50-day simple moving average of $1,382.02 and a two-hundred day simple moving average of $1,400.14.

Mettler-Toledo International (NYSE:MTD) last issued its 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 business had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Sell-side analysts expect that Mettler-Toledo International Inc. will post 40.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this hyperlink. 1.94% of the stock is currently owned by company insiders.

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.