Should You Invest in Mettler-Toledo International (MTD) for the Long-Term?
Baron Funds, an investment management company, released its “Baron Health Care Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The fund advanced 9.22% (Institutional Shares) in the quarter compared to a 3.44% gain for the Russell 3000 Health Care Index (benchmark) and an 8.74% gain for the S&P 500 Index. Since its inception, on April 30, 2018, the fund gained 13.58% on an annualized basis, compared to the benchmark’s 10.85% gain and the S&P 500 Index’s 12.54% return. Favorable stock selection led the fund to outperform in the quarter. Investments in biotechnology, pharmaceuticals, and healthcare equipment accounted for most of the relative gains of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund highlighted stocks like Mettler-Toledo International Inc. (NYSE:MTD) in the second quarter 2023 investor letter. Based in Columbus, Ohio, Mettler-Toledo International Inc. (NYSE:MTD) is a precision instruments and services manufacturer and supplier. On July 24, 2023, Mettler-Toledo International Inc. (NYSE:MTD) stock closed at $1,362.02 per share. One-month return of Mettler-Toledo International Inc. (NYSE:MTD) was 6.42%, and its shares gained 10.71% of their value over the last 52 weeks. Mettler-Toledo International Inc. (NYSE:MTD) has a market capitalization of $29.992 billion.
Baron Health Care Fund made the following comment about Mettler-Toledo International Inc. (NYSE:MTD) in its second quarter 2023 investor letter:
“Mettler-Toledo International Inc. (NYSE:MTD) is a leading provider of precision instruments and services for customers in the life sciences, food, and chemicals industries, among others. Shares fell after Mettler reported first quarter results that were solid but reflected the negative impact of a few headwinds, including a halt in shipping products to Russia, inventory destocking in the pipettes business, and unfavorable foreign currency exchange rates. We believe these factors are transitory, and Mettler can compound earnings at mid-teens or better rates over the long term.”
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Mettler-Toledo International Inc. (NYSE:MTD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Mettler-Toledo International Inc. (NYSE:MTD) at the end of the first quarter which was 34 in the previous quarter.
We discussed Mettler-Toledo International Inc. (NYSE:MTD) in another article and shared the list of under-the-radar stocks billionaires are loading up on. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
