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

Mettler-Toledo International (NYSE:MTD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 40.200-40.500 for the period, compared to the consensus earnings per share 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.

Mettler-Toledo International Stock Down 4.9 %

MTD traded down $73.92 during trading on Friday, reaching $1,441.43. The company had a trading volume of 327,034 shares, compared to its average volume of 136,241. The stock has a market cap of $30.79 billion, a P/E ratio of 40.42, a PEG ratio of 4.06 and a beta of 1.17. The business has a 50 day simple moving average of $1,414.17 and a 200-day simple moving average of $1,326.84. Mettler-Toledo International has a 52 week low of $928.49 and a 52 week high of $1,546.93.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. The company had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 590.80% and a net margin of 20.95%. Mettler-Toledo International’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $10.19 earnings per share. As a group, equities research 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 recent analyst reports. Stifel Nicolaus increased their target price on Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the stock a buy rating in a research note on Monday, May 13th. StockNews.com upgraded Mettler-Toledo International from a hold rating to a buy rating in a research note on Thursday, July 11th. Robert W. Baird increased 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. The Goldman Sachs Group increased their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group reiterated an underperform rating and issued a $1,250.00 target price (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. 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 company. According to data from MarketBeat, Mettler-Toledo International has an average rating of Hold and a consensus price target of $1,301.25.

Insiders Place Their Bets

In related news, insider Christian Magloth sold 1,100 shares of Mettler-Toledo International stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1,470.97, for a total transaction of $1,618,067.00. Following the completion of the sale, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated 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 sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $7,160,041.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian Magloth sold 1,100 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $1,470.97, for a total value of $1,618,067.00. Following the transaction, the insider now owns 734 shares of the company’s stock, valued at $1,079,691.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,278 shares of company stock valued at $4,871,849. 1.94% of the stock is currently owned by corporate insiders.

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.