Mettler-Toledo International (NYSE:MTD) Updates Q2 2024 Earnings Guidance

Mettler-Toledo International (NYSE:MTD) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 8.900-9.050 for the period, compared to the consensus EPS estimate of 9.330. The company issued revenue guidance of $942.8 million-$942.8 million, compared to the consensus revenue estimate of $928.4 million. Mettler-Toledo International also updated its FY 2024 guidance to 39.900-40.400 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore ISI boosted their price objective on shares of Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an in-line rating in a research note on Thursday, April 4th. StockNews.com raised Mettler-Toledo International from a hold rating to a buy rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Mettler-Toledo International has an average rating of Hold and a consensus price target of $1,191.57.

Mettler-Toledo International Stock Performance

Shares of MTD stock traded up $37.29 during midday trading on Thursday, reaching $1,290.42. 170,011 shares of the company were exchanged, compared to its average volume of 138,739. The company’s 50 day moving average price is $1,282.67 and its two-hundred day moving average price is $1,188.88. The company has a market cap of $27.60 billion, a P/E ratio of 35.95, a PEG ratio of 3.42 and a beta of 1.16. 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 posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.63 by $1.26. Mettler-Toledo International had a net margin of 20.82% and a negative return on equity of 904.59%. The business had revenue of $925.95 million for the quarter, compared to the consensus estimate of $879.72 million. During the same period in the prior year, the business posted $8.69 earnings per share. Mettler-Toledo International’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Mettler-Toledo International will post 39.9 earnings per share for the current year.

Insider Buying and Selling at Mettler-Toledo International

In related news, insider Christian Magloth sold 400 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the completion of the transaction, the insider now directly owns 734 shares of the company’s stock, valued at approximately $938,587.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Christian Magloth sold 400 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the sale, the insider now directly owns 734 shares in the company, valued at $938,587.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1,210.83, for a total transaction of $363,249.00. Following the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $5,950,018.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 951 shares of company stock worth $1,170,256. Company 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.