Penserra Capital Management LLC Cuts Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Penserra Capital Management LLC lowered its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 32.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103 shares of the medical instruments supplier’s stock after selling 50 shares during the quarter. Penserra Capital Management LLC’s holdings in Mettler-Toledo International were worth $121,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Mettler-Toledo International by 39.1% during the 1st quarter. Farther Finance Advisors LLC now owns 89 shares of the medical instruments supplier’s stock worth $103,000 after buying an additional 25 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Mettler-Toledo International by 29.4% in the 1st quarter. QRG Capital Management Inc. now owns 489 shares of the medical instruments supplier’s stock valued at $577,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mettler-Toledo International by 13.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,488 shares of the medical instruments supplier’s stock valued at $2,929,000 after purchasing an additional 292 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Mettler-Toledo International by 95.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the medical instruments supplier’s stock valued at $2,600,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Mettler-Toledo International by 7.1% in the 1st quarter. Boston Trust Walden Corp now owns 34,610 shares of the medical instruments supplier’s stock valued at $40,871,000 after purchasing an additional 2,296 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock opened at $1,223.62 on Friday. Mettler-Toledo International, Inc. has a 12-month low of $946.69 and a 12-month high of $1,546.93. The stock has a market capitalization of $25.43 billion, a P/E ratio of 30.51, a P/E/G ratio of 3.76 and a beta of 1.37. The firm’s 50-day moving average is $1,165.26 and its two-hundred day moving average is $1,195.29.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The company had revenue of $883.74 million for the quarter, compared to analysts’ expectations of $876.61 million. During the same period last year, the company earned $8.89 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts forecast that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Insider Activity

In related news, Director Michael A. Kelly sold 1,062 shares of the firm’s 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 value of $1,231,845.66. Following the sale, the director directly owned 120 shares of the company’s stock, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTD. Evercore ISI increased their price target on shares of Mettler-Toledo International from $1,200.00 to $1,280.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Citigroup upgraded shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 price target for the company in a report on Monday, April 7th. Robert W. Baird cut their price target on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating for the company 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 cut their price target 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 five have issued a buy rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average target price of $1,280.90.

Mettler-Toledo International Company 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.