Mettler Delivers Strong 4Q, Cautious in Its Outlook; Shares Expensive
Mettler-Toledo delivered strong local currency sales growth of 8% in the fourth quarter but remained cautious in its 2019 guidance as it anticipates weaker macro conditions combined with reduced activity related to China-U.S. tariffs. We're maintaining our fair value estimate and our narrow moat rating. The shares remain overvalued.Organic sales in the largest product market, laboratory, were up a healthy 7% in local currency, with strong performance across all product lines. The industrial seg...
Mettler-Toledo International is a supplier of precision instruments and services. The company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics, and food retailing applications. The company also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The company has five segments: United States Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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