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

Mettler-Toledo International (NYSE:MTD) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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 Ratings Changes

Several analysts have commented on the stock. Evercore ISI boosted their target price 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. StockNews.com raised shares of Mettler-Toledo International from a hold rating to a buy rating in a research report 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 stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $1,191.57.

Mettler-Toledo International Price Performance

Shares of NYSE MTD traded up $37.29 during trading hours on Thursday, hitting $1,290.42. 170,011 shares of the stock were exchanged, compared to its average volume of 138,739. The company’s 50 day moving average is $1,282.67 and its 200 day moving average is $1,188.88. The firm has a market capitalization of $27.60 billion, a P/E ratio of 35.95, a P/E/G ratio of 3.42 and a beta of 1.16. Mettler-Toledo International has a one year low of $928.49 and a one year high of $1,411.61.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $879.72 million. During the same period in the prior year, the firm earned $8.69 EPS. Mettler-Toledo International’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that Mettler-Toledo International will post 39.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 400 shares of the 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 sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $938,587.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Christian Magloth sold 400 shares of the 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 owns 734 shares in the company, valued at approximately $938,587.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elisha W. Finney sold 251 shares of the stock in a transaction 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 completion of the transaction, the director now owns 316 shares of the company’s stock, valued at approximately $372,042.60. The disclosure for this sale can be found here. Insiders sold a total of 951 shares of company stock valued at $1,170,256 in the last ninety days. Company insiders own 1.94% of the company’s stock.

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.