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Barchart
Kritika Sarmah

How Is Mettler-Toledo International's Stock Performance Compared to Other Medical Devices Stocks?

Based in Columbus, Ohio, Mettler-Toledo International Inc. (MTD) manufactures and distributes precision instruments for laboratory, industrial, and food retail applications. With a market cap of $26.6 billion, the company provides a wide range of high-precision weighing, analytical, and inspection solutions, serving industries such as pharmaceuticals, chemicals, food production, and academic research. 

Companies valued at $10 billion or more are typically classified as “large-cap” stocks and Mettler-Toledo International fits right into this category. Beyond its renowned precision instruments, Mettler-Toledo offers a portfolio of over 50 advanced solutions celebrated for their exceptional accuracy and reliability across industries like pharmaceuticals, food production, and research.

Shares of MTD are trading 19.4% below their 52-week high of $1,546.93, which they hit on Jan. 8. The stock has declined 9.9% over the past three months, trailing the First Trust Indxx Global Medical Devices ETF (MDEV), which has dropped 3.1% over the same time frame.

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However, in the longer term, MTD stock is up 2.8% on a YTD basis, lagging behind MDEV’s 6.9% gains. Also, shares of MTD have gained 4.7% over the past 52 weeks, underperforming MDEV’s 6.9% returns over the same time frame.

To confirm its bearish price trends, MTD has been trading below its 200-day moving average and 50-day moving average since early November.

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On Nov. 7, Mettler-Toledo reported its Q3 results, with shares dropping over 7% in the next trading session. The company delivered adjusted earnings of $10.21 per share, exceeding Wall Street's $10 estimate and revenue of $954.5 million, topping forecasts of $941.9 million. However, the stock declined after the company issued a Q4 adjusted EPS guidance of $11.63-$11.78, below the consensus estimate of $11.88.

MTD has outpaced its rival, Agilent Technologies, Inc. (A), which has fallen 1.9% on a YTD basis and marginally over the past year.

Given MTD’s recent underperformance relative to the broader industry, analysts remain cautious about its prospects. The stock has a consensus " Hold " rating from the 11 analysts in coverage. The mean price target is $1,342.50, which indicates a potential upswing of 7.7% from the prevailing price level. 

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