Mettler-Toledo International (NYSE:MTD) Issues Q3 2024 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 9.900-10.050 for the period, compared to the consensus EPS estimate of 10.360. The company issued revenue guidance of $951.9 million-$951.9 million, compared to the consensus revenue estimate of $959.4 million. Mettler-Toledo International also updated its FY 2024 guidance to 40.200-40.500 EPS.

Mettler-Toledo International Price Performance

Shares of Mettler-Toledo International stock traded down $73.92 during trading on Friday, reaching $1,441.43. 327,034 shares of the stock traded hands, compared to its average volume of 136,241. The company has a market capitalization 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 has a 52-week low of $928.49 and a 52-week high of $1,546.93. The business has a fifty day simple moving average of $1,414.17 and a two-hundred day simple moving average of $1,326.84.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MTD shares. Stifel Nicolaus upped their target price on 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. 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. StockNews.com raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research note on Thursday, July 11th. Jefferies Financial Group reiterated an underperform rating and set a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. 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 stock a neutral rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $1,301.25.

Insiders Place Their Bets

In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the sale, the chief financial officer now directly owns 4,914 shares in the company, valued at approximately $7,160,041.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $7,160,041.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gerry Keller sold 310 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $1,511.56, for a total value of $468,583.60. Following the completion of the transaction, the insider now directly owns 6 shares of the company’s stock, valued at $9,069.36. 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 company 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.