5 Under-the-Radar Stocks Billionaires Are Loading Up On

In this article, we discuss 5 under-the-radar stocks billionaires are loading up on. If you want to read our detailed analysis of the market and its outlook this year, go directly to read 10 Under-the-Radar Stocks Billionaires Are Loading Up On. 

5. Mettler-Toledo International Inc. (NYSE:MTD)

Number of Billionaire Investors: 13
Number of Hedge Fund Holders: 47

Mettler-Toledo International Inc. (NYSE:MTD) is an Ohio-based multinational manufacturing company that specializes in scales and analytical instruments. In May, Wells Fargo raised its price target on the stock to $1,660 and kept an Overweight rating on the shares, following the company’s recent quarterly earnings.

In the first quarter of 2023, Mettler-Toledo International Inc. (NYSE:MTD) posted revenue of $928.7 million, which showed a 3.4% growth from the same period last year. The company had over $89 million available in cash and cash equivalents at the end of March 2023.

Billionaire Terry Smith’s Fundsmith LLP was the largest stakeholder of Mettler-Toledo International Inc. (NYSE:MTD) in Q1 2023. Overall, 47 hedge funds tracked by Insider Monkey owned stakes in the company in Q1, up significantly from 34 a quarter earlier. The collective value of these stakes is over $1.78 billion.

Baron Funds mentioned Mettler-Toledo International Inc. (NYSE:MTD) in its Q1 2023 investor letter. Here is what the firm has to say:

“These negative effects were somewhat offset by favorable stock selection in pharmaceuticals and life sciences tools & services, where performance was led by global animal health company Zoetis Inc. and weighing instruments provider Mettler-Toledo International Inc. (NYSE:MTD), respectively. Mettler’s shares outperformed in response to strong financial results, driven by broad-based strength across geographies and product categories. Additionally, management raised EPS guidance for fiscal year 2023 to account for less adverse foreign currency impacts versus the prior forecast. The Fund also benefited from its lack of exposure to select large-cap pharmaceutical companies, namely Pfizer Inc. and Johnson & Johnson, whose shares were down double digits for the quarter.”