Harvey Investment Co. LLC Trims Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Harvey Investment Co. LLC lessened its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,223 shares of the medical instruments supplier’s stock after selling 275 shares during the quarter. Mettler-Toledo International accounts for about 2.4% of Harvey Investment Co. LLC’s holdings, making the stock its 16th biggest holding. Harvey Investment Co. LLC owned approximately 0.07% of Mettler-Toledo International worth $21,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of Mettler-Toledo International in the 2nd quarter worth approximately $25,000. Blue Trust Inc. boosted its position in shares of Mettler-Toledo International by 242.9% during the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after buying an additional 17 shares during the period. Rothschild Investment LLC purchased a new position in shares of Mettler-Toledo International during the second quarter worth $42,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Mettler-Toledo International in the second quarter valued at $42,000. Finally, Crewe Advisors LLC raised its holdings in shares of Mettler-Toledo International by 244.4% in the 2nd quarter. Crewe Advisors LLC now owns 31 shares of the medical instruments supplier’s stock valued at $43,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTD. Stifel Nicolaus raised their target price on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Evercore ISI upped their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1,363.75.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christian Magloth sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the transaction, the insider now owns 734 shares in the company, valued at $1,044,459.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Mettler-Toledo International Trading Down 0.0 %

Mettler-Toledo International stock opened at $1,320.15 on Thursday. The company has a fifty day simple moving average of $1,421.35 and a 200-day simple moving average of $1,394.57. The stock has a market cap of $28.19 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.14. Mettler-Toledo International Inc. has a 12-month low of $928.49 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The company had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. During the same period in the previous year, the business earned $10.19 EPS. Mettler-Toledo International’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

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.