Allspring Global Investments Holdings LLC Sells 38 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,217 shares of the medical instruments supplier’s stock after selling 38 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Mettler-Toledo International were worth $1,407,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Mettler-Toledo International in the 4th quarter worth about $33,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Mettler-Toledo International during the fourth quarter worth about $44,000. Golden State Wealth Management LLC boosted its stake in Mettler-Toledo International by 583.3% in the first quarter. Golden State Wealth Management LLC now owns 41 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 35 shares in the last quarter. Menard Financial Group LLC purchased a new stake in Mettler-Toledo International in the fourth quarter worth approximately $67,000. Finally, Blue Trust Inc. boosted its stake in Mettler-Toledo International by 520.0% in the first quarter. Blue Trust Inc. now owns 62 shares of the medical instruments supplier’s stock worth $73,000 after buying an additional 52 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Stock Down 1.7%

MTD stock opened at $1,188.28 on Tuesday. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,546.93. The stock has a market cap of $24.70 billion, a P/E ratio of 29.63, a PEG ratio of 3.72 and a beta of 1.37. The business’s 50-day moving average price is $1,153.37 and its 200-day moving average price is $1,195.52.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The firm had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same period in the previous year, the firm earned $8.89 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities research analysts expect that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael A. Kelly sold 1,062 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at approximately $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

MTD has been the subject of a number of research reports. Wall Street Zen downgraded Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Citigroup upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 price objective for the company in a report on Monday, April 7th. Wells Fargo & Company lifted their price objective on 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. Barclays assumed coverage on Mettler-Toledo International in a report on Tuesday, June 24th. They issued an “overweight” rating and a $1,325.00 price objective for the company. Finally, Jefferies Financial Group upgraded Mettler-Toledo International from an “underperform” rating to a “hold” rating and reduced their price objective for the stock from $1,200.00 to $1,110.00 in a report on Monday, May 5th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Mettler-Toledo International currently has an average rating of “Hold” and an average price target of $1,300.36.

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.