Mettler-Toledo International (NYSE:MTD) Updates 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 guidance of $9.90-10.05 for the period, compared to the consensus earnings per share estimate of $10.37. Mettler-Toledo International also updated its FY 2024 guidance to 40.200-40.500 EPS.

Mettler-Toledo International Price Performance

Shares of MTD traded down $73.92 during mid-day trading on Friday, reaching $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 12-month low of $928.49 and a 12-month high of $1,546.93. The stock has a market cap 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 company’s 50 day moving average is $1,414.17 and its 200 day moving average is $1,327.84.

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, beating analysts’ consensus estimates of $9.00 by $0.65. The firm had revenue of $946.75 million during 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 business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $10.19 EPS. As a group, sell-side analysts anticipate that Mettler-Toledo International will post 40.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a neutral rating in a research report on Tuesday, July 9th. Evercore ISI upped their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an in-line rating in a research report on Tuesday, July 2nd. Jefferies Financial Group reissued an underperform rating and issued a $1,250.00 target price (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. Citigroup increased their price objective on Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a sell 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 issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $1,301.25.

Insider Activity at Mettler-Toledo International

In related news, Director Thomas P. Salice sold 1,268 shares of Mettler-Toledo International stock in a transaction that occurred 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 sale, the director now directly owns 244 shares in the company, valued at $363,603.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Thomas P. Salice sold 1,268 shares of Mettler-Toledo International stock in a transaction that occurred 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 sale, the director now directly owns 244 shares in the company, valued at $363,603.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christian Magloth sold 1,100 shares of Mettler-Toledo International 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 transaction, the insider now directly owns 734 shares of the company’s stock, valued at $1,079,691.98. The disclosure for this sale can be found here. Insiders have sold a total of 3,278 shares of company stock worth $4,871,849 over the last three months. 1.94% of the stock is currently owned by corporate 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.