Park Place Capital Corp Reduces Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Park Place Capital Corp decreased its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 33.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52 shares of the medical instruments supplier’s stock after selling 26 shares during the quarter. Park Place Capital Corp’s holdings in Mettler-Toledo International were worth $73,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its position in shares of Mettler-Toledo International by 162.5% during the 4th quarter. MV Capital Management Inc. now owns 21 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Rise Advisors LLC acquired a new position in Mettler-Toledo International in the first quarter valued at $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Mettler-Toledo International during the fourth quarter worth about $27,000. Bellevue Group AG acquired a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $30,000. Finally, Mather Group LLC. purchased a new stake in shares of Mettler-Toledo International in the 1st quarter valued at about $32,000. 95.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTD. StockNews.com upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Evercore ISI lifted their target price on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Citigroup increased their price target on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a “sell” rating in a research note on Monday, May 13th. Stifel Nicolaus raised their price objective on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,301.25.

Insiders Place Their Bets

In related news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the sale, the chief financial officer now owns 4,914 shares in the company, valued at $7,160,041.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas P. Salice sold 1,268 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total value of $1,889,548.24. Following the sale, the director now directly owns 244 shares in the company, valued at approximately $363,603.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,278 shares of company stock worth $4,871,849. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Trading Down 4.9 %

Shares of NYSE:MTD traded down $73.92 during midday trading on Friday, hitting $1,441.43. The stock had a trading volume of 327,034 shares, compared to its average volume of 136,241. The company has a market capitalization of $30.79 billion, a PE ratio of 40.42, a P/E/G ratio of 4.06 and a beta of 1.17. Mettler-Toledo International Inc. has a 1 year low of $928.49 and a 1 year high of $1,546.93. The stock has a 50 day moving average price of $1,414.17 and a two-hundred day moving average price of $1,329.00.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.65. The company had revenue of $946.75 million for the quarter, compared to analysts’ expectations of $929.13 million. Mettler-Toledo International had a negative return on equity of 590.80% and a net margin of 20.95%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.19 EPS. As a group, equities analysts expect that Mettler-Toledo International Inc. will post 40.13 EPS for the current year.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.