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 guidance of 39.900-40.400 for the period, compared to the consensus earnings per share 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.

Mettler-Toledo International Stock Up 3.0 %

Shares of MTD traded up $37.29 during trading hours on Thursday, hitting $1,290.42. The company had a trading volume of 170,011 shares, compared to its average volume of 138,739. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 3.42 and a beta of 1.16. The business has a fifty 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 quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.63 by $1.26. Mettler-Toledo International had a negative return on equity of 904.59% and a net margin of 20.82%. The company had revenue of $925.95 million during the quarter, compared to analysts’ expectations of $879.72 million. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.69 earnings per share. On average, equities analysts expect that Mettler-Toledo International will post 39.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTD. StockNews.com upgraded Mettler-Toledo International from a hold rating to a buy rating in a research note on Monday, April 29th. Evercore ISI upped their target price on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an in-line rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International presently has an average rating of Hold and an average price target of $1,191.57.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Christian Magloth sold 400 shares of the business’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 transaction, the insider now owns 734 shares of the company’s stock, valued at $938,587.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, 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 transaction of $511,492.00. Following the transaction, the insider now owns 734 shares of the company’s stock, valued at approximately $938,587.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1,210.83, for a total value of $363,249.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $5,950,018.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 951 shares of company stock worth $1,170,256. 1.94% of the stock is owned by 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.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.