Mettler-Toledo International (NYSE:MTD) Releases 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 40.350-40.500 for the period, compared to the consensus estimate of 40.380. 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 Q4 guidance to $11.63-11.78 EPS.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTD. JPMorgan Chase & Co. increased their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Stifel Nicolaus increased their price objective on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company started coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 target price on the stock. Finally, Evercore ISI raised their price target on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,363.75.

Mettler-Toledo International Stock Down 7.2 %

Shares of NYSE MTD traded down $101.49 during mid-day trading on Friday, hitting $1,310.03. 254,186 shares of the company were exchanged, compared to its average volume of 119,785. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 4.09 and a beta of 1.16. The stock has a 50 day simple moving average of $1,398.01 and a 200-day simple moving average of $1,401.35. Mettler-Toledo International has a 1-year low of $953.28 and a 1-year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, beating analysts’ consensus estimates of $10.00 by $0.21. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The company had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Analysts anticipate that Mettler-Toledo International will post 40.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the transaction, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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.