Mettler-Toledo MTD shares ended the last trading session 3.3% higher at $1. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10% gain over the past four weeks.
Mettler-Toledo benefits from innovation-led demand for automation and digitalization, with share gains in product inspection, steady bioprocessing activity, and growing service revenue.
This maker of precision instruments is expected to post quarterly earnings of $10.78 per share in its upcoming report, which represents a year-over-year change of +6.8%. Revenues are expected to be $1.03 billion, up 5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Mettler-Toledo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MTD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Mettler-Toledo belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Delcath Systems, Inc. DCTH, closed the last trading session 0.7% higher at $12.32. Over the past month, DCTH has returned 12.2%.
Delcath Systems' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.16. Compared to the company's year-ago EPS, this represents a change of -328.6%. Delcath Systems currently boasts a Zacks Rank of #5 (Strong Sell).
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Mettler-Toledo International, Inc. (MTD): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).