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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 $30.82 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. In addition to its renowned precision instruments, Mettler-Toledo's portfolio features over 50 advanced solutions recognized for their high accuracy and reliability in industries such as pharmaceuticals, food production, and research.
Shares of MTD are trading 6.7% below their 52-week high of $1,546.93, which they hit on Jan. 8. The stock has declined 2.6% over the past three months, lagging behind the broader Health Care Select Sector SPDR Fund’s (XLV)
6.5% return over the same time frame.
However, in the longer term, MTD stock is up 19% on a YTD basis, outperforming XLV’s 14.4% gains. Also, shares of MTD have gained 27.5% over the past 52 weeks, surpassing XLV’s 18.6% returns over the same time frame.
To confirm its bullish price trends, MTD has been trading above its 200-day moving average since late February and its 50-day moving average recently.
Shares of MTD gained marginally following its Q2 earnings release on Aug. 1. Its adjusted EPS of $9.65 surpassed Wall Street estimates of $9. The company also topped the revenue forecasts, posting $946.80 million compared to the expected $923.90 million. MTD expects full-year earnings to be $40.20 to $40.50 per share.
MTD has also lagged behind its rival, Agilent Technologies, Inc. (A), which gained 2.1% on a YTD basis.
Given MTD’s recent underperformance relative to the broader sector, analysts remain cautious about its prospects. The stock has a consensus " Hold " rating from the 10 analysts in coverage. The mean price target is $1,375.50, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
