Mettler-Toledo International Inc. (MTD), headquartered in Columbus, Ohio, manufactures and supplies precision instruments and services for laboratory, industrial, and food retailing applications. Valued at $22.3 billion by market cap, the company also supplies several related analytical and measurement technologies.
Shares of this leading precision instruments supplier have underperformed the broader market over the past year. MTD has declined 5.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. In 2026, MTD stock is down 21.5%, compared to the SPX’s 9.9% rise on a YTD basis.
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Narrowing the focus, MTD’s outperformance is apparent compared to the First Trust Indxx Global Medical Devices ETF (MDEV). The exchange-traded fund has declined about 7.8% over the past year. However, the ETF’s 10.9% losses on a YTD basis outshine MTD’s dip over the same time frame.
MTD underperformed as pipette sales slipped on soft demand from academia and biotech. Core industrial sales were flat ex-acquisitions, reflecting cautious spending across most end markets.
On May 7, MTD reported its Q1 results, and its shares tumbled 14.8% in the following trading session. Its adjusted EPS of $8.91 surpassed Wall Street expectations of $8.70. The company’s revenue was $947.1 million, topping Wall Street forecasts of $946.8 million. The company expects full-year adjusted EPS in the range of $46.30 to $46.95.
For the current fiscal year, ending in December, analysts expect MTD’s EPS to grow 9.1% to $46.60 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 13 analysts covering MTD stock, the consensus is a “Moderate Buy.” That’s based on six “Strong Buy” ratings, and seven “Holds.”
This configuration is less bullish than two months ago, with seven analysts suggesting a “Strong Buy.”
On May 18, Stifel Financial Corp. (SF) analyst Daniel Arias kept a “Buy” rating on MTD and lowered the price target to $1,400, implying a potential upside of 28% from current levels.
