Baron Funds Believes in the Long-Term Earnings Potential of Mettler-Toledo International (MTD)

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Mettler-Toledo International Inc. (NYSE:MTD). Headquartered in Columbus, Ohio, Mettler-Toledo International Inc. (NYSE:MTD) is a manufacturer and distributor of precision weight instruments. On August 29, 2022, Mettler-Toledo International Inc. (NYSE:MTD) stock closed at $1,232.37 per share. One-month return of Mettler-Toledo International Inc. (NYSE:MTD) was -8.05% and its shares lost 20.64% of their value over the last 52 weeks. Mettler-Toledo International Inc. (NYSE:MTD) has a market capitalization of $27.736 billion.

Here is what Baron Funds specifically said about Mettler-Toledo International Inc. (NYSE:MTD):

“Mettler-Toledo International Inc. (NYSE:MTD) is the world’s largest provider of precision weighing instruments used in laboratory, industrial, and food retailing applications. Mettler reported solid results during the quarter, and management increased its 2022 earnings guidance. Nevertheless, we believe its shares fell because of investor concerns around the impacts of a possible economic slowdown, inflation, supply-chain constraints, a stronger U.S. dollar, and higher interest rates.

$We remain shareholders as we believe Mettler has strong brand recognition, pricing power, customer and geographic diversification, margin expansion opportunities, and strong free cash flow and can compound its earnings in the mid-teens over the long term.”

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Mettler-Toledo International Inc. (NYSE:MTD) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Mettler-Toledo International Inc. (NYSE:MTD) was held by 39 hedge fund portfolios at the end of the second quarter compared to 36 in the previous quarter.

We discussed Mettler-Toledo International Inc. (NYSE:MTD) in another article and shared Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.