Mettler-Toledo International (NYSE:MTD) Updates FY24 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $39.90-40.40 for the period, compared to the consensus EPS estimate of $39.88. Mettler-Toledo International also updated its Q2 guidance to $8.90-9.05 EPS.

Mettler-Toledo International Trading Up 3.0 %

NYSE:MTD traded up $37.29 during mid-day trading on Thursday, hitting $1,290.42. The stock had a trading volume of 171,268 shares, compared to its average volume of 138,739. The company has a 50 day simple moving average of $1,281.61 and a 200-day simple moving average of $1,187.72. Mettler-Toledo International has a 52 week low of $928.49 and a 52 week high of $1,411.61. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 3.42 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 EPS for the quarter, beating the consensus estimate of $7.63 by $1.26. The firm had revenue of $925.95 million for the quarter, compared to analysts’ expectations of $879.72 million. Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $8.69 EPS. As a group, equities research analysts anticipate that Mettler-Toledo International will post 39.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on MTD. Evercore ISI boosted their target price on shares of Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the stock an in-line rating in a report on Thursday, April 4th. StockNews.com upgraded Mettler-Toledo International from a hold rating to a buy rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $1,191.57.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 400 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at $938,587.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Shawn Vadala sold 300 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1,210.83, for a total value of $363,249.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares in the company, valued at approximately $5,950,018.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian Magloth sold 400 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total transaction of $511,492.00. Following the transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $938,587.82. The disclosure for this sale can be found here. Insiders sold 951 shares of company stock valued at $1,170,256 over the last quarter. Insiders own 1.94% of the company’s stock.

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.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.