Mettler-Toledo International (NYSE:MTD) Updates 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 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

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research report on Monday, April 29th. Evercore ISI increased their price objective 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 report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International currently has a consensus rating of Hold and a consensus price target of $1,191.57.

Mettler-Toledo International Price Performance

MTD stock traded up $37.29 during mid-day trading on Thursday, reaching $1,290.42. The company had a trading volume of 170,011 shares, compared to its average volume of 138,739. The company has a market capitalization of $27.60 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 3.42 and a beta of 1.16. The firm has a 50 day moving average of $1,282.67 and a 200 day moving average of $1,188.88. Mettler-Toledo International has a 12 month low of $928.49 and a 12 month high of $1,411.61.

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

Insiders Place Their Bets

In other news, Director Elisha W. Finney sold 251 shares of the 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 transaction of $295,514.85. Following the transaction, the director now directly owns 316 shares in the company, valued at $372,042.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Elisha W. Finney sold 251 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $1,177.35, for a total value of $295,514.85. Following the completion of the transaction, the director now directly owns 316 shares of the company’s stock, valued at approximately $372,042.60. The transaction was disclosed in a filing with the SEC, which is available at 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 sale, the insider now owns 734 shares of the company’s stock, valued at $938,587.82. The disclosure for this sale can be found here. Insiders have sold 951 shares of company stock worth $1,170,256 in the last three months. Corporate 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.