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 EPS guidance of 40.350-40.500 for the period, compared to the consensus EPS 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 Up 1.0 %

Shares of NYSE:MTD traded up $13.33 on Thursday, reaching $1,411.52. The company had a trading volume of 154,012 shares, compared to its average volume of 132,796. The stock has a market capitalization of $29.95 billion, a P/E ratio of 38.84, a P/E/G ratio of 3.99 and a beta of 1.16. The stock has a 50-day moving average price of $1,400.98 and a 200 day moving average price of $1,399.40. Mettler-Toledo International has a twelve month low of $953.28 and a twelve month high of $1,546.93.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Stifel Nicolaus lifted their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Evercore ISI lifted their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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 company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the transaction, the insider now owns 734 shares of the company’s stock, valued at $1,044,459.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.