PDT Partners LLC Has $1.31 Million Position in Mettler-Toledo International Inc. (NYSE:MTD)

PDT Partners LLC trimmed its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 58.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876 shares of the medical instruments supplier’s stock after selling 1,214 shares during the quarter. PDT Partners LLC’s holdings in Mettler-Toledo International were worth $1,314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Family Firm Inc. bought a new position in shares of Mettler-Toledo International in the 2nd quarter valued at $25,000. Blue Trust Inc. raised its position in Mettler-Toledo International by 242.9% in the third quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock valued at $34,000 after purchasing an additional 17 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Mettler-Toledo International during the third quarter valued at about $37,000. Rothschild Investment LLC bought a new stake in shares of Mettler-Toledo International during the second quarter worth about $42,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Mettler-Toledo International in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Activity

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the transaction, the director now owns 240 shares in the company, valued at approximately $314,820. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.94% of the stock is currently owned by company insiders.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,251.20 on Monday. The firm has a market cap of $26.40 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 4.13 and a beta of 1.16. Mettler-Toledo International Inc. has a 52-week low of $1,068.33 and a 52-week high of $1,546.93. The business’s 50 day moving average price is $1,345.17 and its two-hundred day moving average price is $1,392.37.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The company had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. Research analysts predict that Mettler-Toledo International Inc. will post 40.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTD has been the topic of several recent research reports. Robert W. Baird cut their target price on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Evercore ISI boosted their price objective on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lowered their target price on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1,338.75.

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.