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

Mettler-Toledo International (NYSE:MTD) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $8.90-9.05 for the period, compared to the consensus EPS estimate of $9.36. Mettler-Toledo International also updated its FY24 guidance to $39.90-40.40 EPS.

Mettler-Toledo International Stock Performance

Shares of NYSE:MTD traded up $37.29 during trading hours on Thursday, hitting $1,290.42. 171,268 shares of the company’s stock traded hands, compared to its average volume of 138,739. The company’s fifty day simple moving average is $1,281.61 and its two-hundred day simple moving average is $1,187.72. Mettler-Toledo International has a 52 week low of $928.49 and a 52 week high of $1,411.61. The company has a market cap of $27.60 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 3.42 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD) last issued its earnings results 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 business had revenue of $925.95 million for the quarter, compared to analysts’ expectations of $879.72 million. During the same period in the previous year, the firm posted $8.69 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International will post 39.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTD shares. StockNews.com upgraded Mettler-Toledo International from a hold rating to a buy rating in a report on Monday, April 29th. Evercore ISI lifted their price target on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an in-line rating in a 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. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $1,191.57.

Insiders Place Their Bets

In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at $5,950,018.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mettler-Toledo International news, insider Christian Magloth sold 400 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 734 shares in the company, valued at $938,587.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,950,018.62. The disclosure for this sale can be found here. Insiders have sold 951 shares of company stock worth $1,170,256 over the last 90 days. 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.