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 earnings per share guidance of $40.20-40.50 for the period, compared to the consensus earnings per share estimate of $40.24. Mettler-Toledo International also updated its FY 2024 guidance to 40.200-40.500 EPS.

Mettler-Toledo International Trading Down 4.9 %

MTD traded down $73.92 during trading on Friday, reaching $1,441.43. 327,034 shares of the company’s stock were exchanged, compared to its average volume of 136,241. Mettler-Toledo International has a one year low of $928.49 and a one year high of $1,546.93. The stock has a market capitalization of $30.79 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 4.06 and a beta of 1.17. The firm has a fifty day moving average price of $1,414.17 and a two-hundred day moving average price of $1,327.84.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MTD shares. Citigroup upped their price objective on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a sell rating in a report on Monday, May 13th. Stifel Nicolaus increased their price objective on shares of Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the company a buy rating in a research note on Monday, May 13th. Robert W. Baird boosted their target price on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the stock a neutral rating in a research note on Monday, May 13th. StockNews.com raised Mettler-Toledo International from a hold rating to a buy rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group restated an underperform rating and issued a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International presently has an average rating of Hold and an average price target of $1,301.25.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the completion of the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Mettler-Toledo International news, insider Christian Magloth sold 1,100 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1,470.97, for a total value of $1,618,067.00. Following the completion of the transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $1,079,691.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $7,160,041.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,278 shares of company stock worth $4,871,849. 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.