Congress Asset Management Co. Decreases Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Congress Asset Management Co. cut its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 51.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 655 shares of the medical instruments supplier’s stock after selling 695 shares during the quarter. Congress Asset Management Co.’s holdings in Mettler-Toledo International were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MTD. JPMorgan Chase & Co. boosted its stake in shares of Mettler-Toledo International by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after purchasing an additional 28,478 shares during the period. Quest Partners LLC raised its holdings in Mettler-Toledo International by 878.1% during the 3rd quarter. Quest Partners LLC now owns 1,027 shares of the medical instruments supplier’s stock valued at $1,540,000 after buying an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Mettler-Toledo International by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,240 shares of the medical instruments supplier’s stock valued at $1,860,000 after buying an additional 152 shares during the period. M&T Bank Corp grew its holdings in Mettler-Toledo International by 14.3% in the 3rd quarter. M&T Bank Corp now owns 4,926 shares of the medical instruments supplier’s stock worth $7,387,000 after acquiring an additional 615 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Mettler-Toledo International by 29.8% in the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier’s stock valued at $129,919,000 after acquiring an additional 24,285 shares during the period. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Mettler-Toledo International Trading Up 0.1 %

Shares of MTD stock opened at $1,273.31 on Wednesday. The company’s fifty day moving average price is $1,284.13 and its 200-day moving average price is $1,335.70. The stock has a market cap of $26.87 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 4.80 and a beta of 1.13. Mettler-Toledo International Inc. has a 12 month low of $1,142.91 and a 12 month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 564.51%. On average, sell-side analysts forecast that Mettler-Toledo International Inc. will post 41.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MTD has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Mettler-Toledo International in a report on Friday, December 13th. They set a “peer perform” rating for the company. Citigroup raised Mettler-Toledo International from a “sell” rating to a “neutral” rating and boosted their target price for the company from $1,200.00 to $1,300.00 in a research note on Wednesday, December 11th. Stifel Nicolaus decreased 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 boosted their price objective on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised their target price on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1,368.00.

Insider Transactions at Mettler-Toledo International

In other news, insider Gerry Keller sold 600 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total value of $810,804.00. Following the completion of the sale, the insider now directly owns 6 shares in the company, valued at $8,108.04. This represents a 99.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.