Mettler-Toledo International (NYSE:MTD) Issues 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 guidance of 40.350-40.500 for the period, compared to the consensus earnings per share 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.

Mettler-Toledo International Stock Performance

NYSE:MTD traded down $101.49 during mid-day trading on Friday, reaching $1,310.03. The stock had a trading volume of 254,186 shares, compared to its average volume of 119,785. The stock has a market capitalization of $27.80 billion, a P/E ratio of 36.05, a P/E/G ratio of 4.09 and a beta of 1.16. The firm has a 50 day moving average price of $1,398.01 and a two-hundred day moving average price of $1,401.35. Mettler-Toledo International has a one year low of $953.28 and a one year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping analysts’ consensus estimates of $10.00 by $0.21. The firm had revenue of $954.54 million during the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. Research analysts forecast that Mettler-Toledo International will post 40.34 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.94% of the stock is owned by corporate 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.