abrdn plc Trims Position in Mettler-Toledo International Inc. (NYSE:MTD)

abrdn plc lessened its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,004 shares of the medical instruments supplier’s stock after selling 2,539 shares during the quarter. abrdn plc owned 0.14% of Mettler-Toledo International worth $36,809,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Mettler-Toledo International by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock worth $332,634,000 after buying an additional 28,478 shares in the last quarter. Quest Partners LLC increased its position in Mettler-Toledo International by 878.1% in the third quarter. Quest Partners LLC now owns 1,027 shares of the medical instruments supplier’s stock worth $1,540,000 after buying an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Mettler-Toledo International by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,240 shares of the medical instruments supplier’s stock worth $1,860,000 after buying an additional 152 shares in the last quarter. M&T Bank Corp increased its position in Mettler-Toledo International by 14.3% in the third quarter. M&T Bank Corp now owns 4,926 shares of the medical instruments supplier’s stock worth $7,387,000 after buying an additional 615 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Mettler-Toledo International by 29.8% in the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier’s stock worth $129,919,000 after buying an additional 24,285 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Trading Up 1.6 %

Shares of Mettler-Toledo International stock opened at $1,361.40 on Thursday. The stock has a 50 day moving average of $1,271.51 and a 200 day moving average of $1,343.01. Mettler-Toledo International Inc. has a 12 month low of $1,133.46 and a 12 month high of $1,546.93. The firm has a market cap of $28.73 billion, a PE ratio of 36.71, a PEG ratio of 4.83 and a beta of 1.13.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings data 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 negative return on equity of 531.78% and a net margin of 21.15%. The business had revenue of $954.54 million for the quarter, compared to the consensus estimate of $941.93 million. As a group, equities research analysts forecast that Mettler-Toledo International Inc. will post 40.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of the company’s 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 transaction of $99,693.00. Following the sale, the director now directly owns 240 shares in the company, valued at $314,820. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gerry Keller sold 140 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total value of $175,572.60. Following the sale, the insider now owns 6 shares in the company, valued at approximately $7,524.54. This trade represents a 95.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MTD shares. Citigroup upgraded Mettler-Toledo International from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1,200.00 to $1,300.00 in a research report on Wednesday, December 11th. Evercore ISI raised Mettler-Toledo International from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $1,375.00 to $1,450.00 in a research note on Thursday, January 2nd. Stifel Nicolaus dropped their price objective on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company dropped 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 note on Monday, November 11th. Finally, Robert W. Baird dropped their price objective on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Mettler-Toledo International has a consensus rating of “Hold” and a consensus target price of $1,351.25.

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.