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.
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.
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.
On the date of publication, Kritika Sarmah 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. More news from Barchart- How to Invest in Wall Street's Favorite Quantum Computing Stocks
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