Mettler-Toledo International (NYSE:MTD) Releases Q3 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $9.90-10.05 for the period, compared to the consensus estimate of $10.37. Mettler-Toledo International also updated its FY 2024 guidance to 40.200-40.500 EPS.

Mettler-Toledo International Trading Down 4.9 %

Shares of MTD stock traded down $73.92 during trading hours on Friday, hitting $1,441.43. The company’s stock had a trading volume of 327,034 shares, compared to its average volume of 136,241. Mettler-Toledo International has a twelve month low of $928.49 and a twelve month high of $1,546.93. The business has a fifty day moving average of $1,414.17 and a 200-day moving average of $1,327.84. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 4.06 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $946.75 million for the quarter, compared to analyst estimates of $929.13 million. During the same quarter last year, the business earned $10.19 earnings per share. Mettler-Toledo International’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Mettler-Toledo International will post 40.13 EPS for the current fiscal year.

Analyst Ratings Changes

MTD has been the topic of a number of research reports. Citigroup raised their target price on shares of 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. Stifel Nicolaus raised their target price 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. StockNews.com raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research note on Thursday, July 11th. Robert W. Baird raised their target price on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a neutral rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group raised their target price on shares of 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. Two 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.com, the company currently has a consensus rating of Hold and a consensus target price of $1,301.25.

Insider Activity

In other news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $1,528.43, for a total value of $458,529.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $7,510,705.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mettler-Toledo International 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 transaction of $1,889,548.24. Following the completion of the transaction, the director now directly owns 244 shares of the company’s stock, valued at approximately $363,603.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $1,528.43, for a total transaction of $458,529.00. Following the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $7,510,705.02. The disclosure for this sale can be found here. In the last three months, insiders sold 3,278 shares of company stock valued at $4,871,849. Company 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.