Mettler-Toledo International (NYSE:MTD) Releases FY 2024 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 40.200-40.500 for the period, compared to the consensus estimate of 40.250. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.8 billion. Mettler-Toledo International also updated its FY24 guidance to $40.20-40.50 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTD. The Goldman Sachs Group lifted their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Citigroup lifted their price objective on Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a sell rating in a research note on Monday, May 13th. Jefferies Financial Group reissued an underperform rating and set a $1,250.00 price target (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Robert W. Baird boosted their price target on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the stock a neutral rating in a research report on Monday, May 13th. Finally, StockNews.com raised Mettler-Toledo International from a hold rating to a buy rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $1,301.25.

Mettler-Toledo International Trading Down 4.9 %

MTD stock traded down $73.92 during midday trading on Friday, hitting $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 12-month low of $928.49 and a 12-month high of $1,546.93. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 4.06 and a beta of 1.17. The firm has a 50 day moving average price of $1,414.17 and a 200-day moving average price of $1,326.84.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a negative return on equity of 590.80% and a net margin of 20.95%. The business had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. During the same period in the previous year, the business earned $10.19 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Mettler-Toledo International will post 40.13 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian Magloth sold 1,100 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 734 shares in the company, valued at approximately $1,079,691.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Mettler-Toledo International news, insider Christian Magloth sold 1,100 shares of the stock in a transaction on 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 sale, the insider now directly owns 734 shares of the company’s stock, valued at $1,079,691.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas P. Salice sold 1,268 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,490.18, for a total value of $1,889,548.24. Following the completion of the sale, the director now directly owns 244 shares in the company, valued at $363,603.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,278 shares of company stock worth $4,871,849. 1.94% of the stock is currently owned by insiders.

About Mettler-Toledo International

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.