Park Avenue Securities LLC Has $351,000 Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Park Avenue Securities LLC raised its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297 shares of the medical instruments supplier’s stock after buying an additional 20 shares during the period. Park Avenue Securities LLC’s holdings in Mettler-Toledo International were worth $351,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock worth $456,018,000 after purchasing an additional 385,864 shares during the period. Norges Bank acquired a new position in shares of Mettler-Toledo International during the fourth quarter worth $372,954,000. Proficio Capital Partners LLC acquired a new position in shares of Mettler-Toledo International during the fourth quarter worth $163,216,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock worth $444,327,000 after purchasing an additional 96,300 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Mettler-Toledo International by 53.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier’s stock worth $262,211,000 after purchasing an additional 74,187 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael A. Kelly sold 1,062 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 120 shares of the company’s stock, valued at $139,191.60. This represents a 89.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target 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. UBS Group upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Citigroup upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a report on Monday, April 7th. Robert W. Baird dropped their target price on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Mettler-Toledo International from an “underperform” rating to a “hold” rating and dropped their target price for the company from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,302.11.

Mettler-Toledo International Trading Down 2.9%

MTD opened at $1,153.65 on Monday. Mettler-Toledo International Inc. has a 1-year low of $946.69 and a 1-year high of $1,546.93. The company has a market cap of $23.98 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.30 and a beta of 1.38. The company has a fifty day moving average price of $1,105.54 and a two-hundred day moving average price of $1,203.68.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The firm had revenue of $883.74 million during the quarter, compared to the consensus estimate of $876.61 million. During the same period in the previous year, the firm posted $8.89 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that Mettler-Toledo International Inc. will post 42.71 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.