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

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

Analysts Set New Price Targets

A number of research firms have issued reports on MTD. Jefferies Financial Group reiterated 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 note on Monday, June 3rd. Stifel Nicolaus raised 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 raised their target price on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a neutral 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. Finally, Evercore ISI raised 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 note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International has a consensus rating of Hold and a consensus price target of $1,301.25.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,441.43 on Friday. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 4.06 and a beta of 1.17. Mettler-Toledo International has a one year low of $928.49 and a one year high of $1,546.93. The stock’s fifty day moving average is $1,414.17 and its 200-day moving average is $1,327.84.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. The company had revenue of $946.75 million for 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $10.19 earnings per share. Analysts forecast that Mettler-Toledo International will post 40.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated Thursday, May 16th. The stock was 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 of the company’s stock, valued at $7,510,705.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated Thursday, May 16th. The stock was 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 of the company’s stock, valued at $7,510,705.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gerry Keller sold 310 shares of Mettler-Toledo International stock in a transaction dated 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 in the company, valued at approximately $9,069.36. The disclosure for this sale can be found here. Insiders have sold a total of 3,278 shares of company stock valued at $4,871,849 over the last three months. Company insiders own 1.94% of the company’s stock.

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.