Mettler-Toledo International (NYSE:MTD) Releases FY24 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $40.20-40.50 for the period, compared to the consensus estimate of $40.24. 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 traded down $73.92 during trading hours 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 firm has a 50 day simple moving average of $1,414.17 and a 200-day simple moving average of $1,327.84. The company has a market capitalization of $30.79 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 4.06 and a beta of 1.17. Mettler-Toledo International has a 12-month low of $928.49 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly 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 business had revenue of $946.75 million during the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 590.80%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $10.19 EPS. Sell-side analysts forecast that Mettler-Toledo International will post 40.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTD has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an in-line rating in a report on Tuesday, July 2nd. StockNews.com upgraded shares of Mettler-Toledo International from a hold rating to a buy rating in a report on Thursday, July 11th. 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 report on Monday, May 13th. 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 report 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 report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $1,301.25.

Insider Buying and Selling

In related news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $7,510,705.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mettler-Toledo International news, 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 transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction that occurred on 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 in the company, valued at $7,510,705.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,278 shares of company stock valued at $4,871,849. 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.