Mettler-Toledo International (NYSE:MTD) Issues 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 (EPS) guidance of 39.900-40.400 for the period, compared to the consensus estimate of 39.900. 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 $39.90-40.40 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MTD shares. Evercore ISI increased their target price on shares of Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. StockNews.com raised Mettler-Toledo International from a hold rating to a buy rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Mettler-Toledo International has a consensus rating of Hold and an average price target of $1,191.57.

Mettler-Toledo International Price Performance

Mettler-Toledo International stock traded up $37.29 during trading hours on Thursday, hitting $1,290.42. 170,011 shares of the stock traded hands, compared to its average volume of 138,739. Mettler-Toledo International has a 1 year low of $928.49 and a 1 year high of $1,411.61. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 3.42 and a beta of 1.16. The firm’s 50 day moving average price is $1,282.67 and its 200-day moving average price is $1,188.88.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.63 by $1.26. The company had revenue of $925.95 million for the quarter, compared to the consensus estimate of $879.72 million. Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. Mettler-Toledo International’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.69 earnings per share. Research analysts forecast that Mettler-Toledo International will post 39.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In other news, Director Elisha W. Finney sold 251 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $1,177.35, for a total value of $295,514.85. Following the completion of the sale, the director now directly owns 316 shares in the company, valued at $372,042.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Elisha W. Finney sold 251 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $1,177.35, for a total value of $295,514.85. Following the transaction, the director now directly owns 316 shares in the company, valued at approximately $372,042.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian Magloth sold 400 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total value of $511,492.00. Following the transaction, the insider now owns 734 shares in the company, valued at $938,587.82. The disclosure for this sale can be found here. Insiders sold 951 shares of company stock valued at $1,170,256 over the last quarter. 1.94% of the stock is currently owned by 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.