Mettler-Toledo (MTD) Stock: $1,531 Price Target From Baird

By Amit Chowdhry ● Nov 25, 2021
  • The shares of Mettler-Toledo International Inc. (NYSE: MTD) recently received a price target of $1,531 from Baird. These are the details.

The shares of Mettler-Toledo International Inc. (NYSE: MTD) recently received a price target of $1,531 from Baird. And Baird analyst Catherine Schulte increased the price target from $1,455 while maintaining a “Neutral” rating on the shares.

Schulte noted that while she was encouraged by the company’s steady execution and what appears to be solid fundamentals heading into 2022, she is currently sidelined due to the current valuation.

Earlier this month, Mettler-Toledo announced their third-quarter results for 2021.

These are the highlights from the quarter:

— Reported sales increased 18% compared with the prior year. In local currency, sales increased 16% in the quarter as currency benefited reported sales growth by 2%.

— Net earnings per diluted share as reported (EPS) were $8.71, compared with $6.68 in the prior-year period. And the adjusted EPS was $8.72, an increase of 24% over the prior-year amount of $7.02.

— EPS in the quarter was $8.71, compared with the prior-year amount of $6.68 (GAAP Results)

— Compared with the prior year, total reported sales increased 18% to $952.0 million. By region, reported sales increased 20% in the Americas, 12% in Europe and 21% in Asia/Rest of World. Earnings before taxes amounted to $247.6 million, compared with $205.8 million in the prior year (GAAP Results)

— Adjusted EPS was $8.72, an increase of 24% over the prior-year amount of $7.02 (Non-GAAP Results)

— Compared with the prior year, total sales in local currency increased 16% as currency benefited sales growth by 2%. By region, local currency sales increased 20% in the Americas, 10% in Europe and 16% in Asia/Rest of World. And the Adjusted Operating Profit amounted to $272.8 million, a 19% increase from the prior-year amount of $230.0 million (Non-GAAP Results)

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