New Mexico Educational Retirement Board reduced its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 2,400 shares of the medical instruments supplier’s stock after selling 200 shares during the period. New Mexico Educational Retirement Board’s holdings in Mettler-Toledo International were worth $1,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Israel Discount Bank of New York acquired a new position in Mettler-Toledo International during the first quarter worth approximately $102,000. YorkBridge Wealth Partners LLC increased its position in Mettler-Toledo International by 11.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 222 shares of the medical instruments supplier’s stock worth $115,000 after buying an additional 22 shares during the last quarter. TLP Group LLC acquired a new position in Mettler-Toledo International during the first quarter worth approximately $144,000. Penserra Capital Management LLC increased its position in Mettler-Toledo International by 9.5% in the first quarter. Penserra Capital Management LLC now owns 414 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 36 shares during the last quarter. Finally, Fernwood Investment Management LLC acquired a new position in Mettler-Toledo International during the first quarter worth approximately $204,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Mettler-Toledo International, Inc. (MTD) opened at 577.58 on Friday. The stock has a market cap of $14.83 billion, a P/E ratio of 35.52 and a beta of 1.13. The company’s 50-day moving average price is $591.25 and its 200-day moving average price is $529.09. Mettler-Toledo International, Inc. has a 1-year low of $386.01 and a 1-year high of $618.13.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.89 by $0.03. The company had revenue of $653.70 million during the quarter, compared to analyst estimates of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.22 earnings per share. Analysts predict that Mettler-Toledo International, Inc. will post $16.89 EPS for the current year.

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A number of research analysts have recently commented on MTD shares. Cleveland Research upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating in a report on Wednesday, April 19th. Bank of America Corporation increased their price objective on Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $643.00 price objective on the stock in a report on Thursday, May 25th. BidaskClub downgraded Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $565.00 price objective (up previously from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Mettler-Toledo International has a consensus rating of “Buy” and an average target price of $569.80.

In related news, Director Robert F. Spoerry sold 5,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $555.78, for a total value of $2,778,900.00. Following the completion of the transaction, the director now directly owns 9,656 shares of the company’s stock, valued at approximately $5,366,611.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Waldemar Rauch sold 1,100 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $595.91, for a total value of $655,501.00. Following the completion of the transaction, the insider now directly owns 3,065 shares of the company’s stock, valued at $1,826,464.15. The disclosure for this sale can be found here. Insiders have sold 23,996 shares of company stock valued at $13,673,195 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.

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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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