Baron Funds: “Mettler (MTD) is an Exceptionally Well-Managed Business”

Baron Funds, an asset management firm, published its “Baron Asset Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Asset Fund (the “Fund”) fell 14.52% (Institutional Shares), while the Russell Midcap Growth Index (the “Index”) fell 12.58%. The S&P 500 Index, which comprises both growths and value-oriented large-cap stocks, fell 4.60%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Asset Fund mentioned Mettler-Toledo International Inc. (NYSE:MTD) and explained its insights for the company. Founded in 1945, Columbus, Ohio is a Columbus, Ohio-based analytical laboratory instrument manufacturing company with a $27.9 billion market capitalization. Mettler-Toledo International Inc. (NYSE:MTD) delivered a -27.32% return since the beginning of the year, while its 12-month returns are down by -2.03%. The stock closed at $1,233.51 per share on May 16, 2022.

Here is what Baron Asset Fund has to say about Mettler-Toledo International Inc. (NYSE:MTD) in its Q1 2022 investor letter: 

“Mettler-Toledo International, Inc. (NYSE:MTD) is a leading provider of precision instruments and services for life sciences, food, and chemicals companies, among others. Similar to IDEXX, we believe that Mettler’s shares fell chiefly because of widespread investor rotation out of growth stocks. In addition, there were concerns about the potential negative impact of foreign currency fluctuation and the possibility of a European economic slowdown, where Mettler has significant business. We continue to believe Mettler is an exceptionally well-managed business with competitive advantages and attractive long-term growth prospects.”

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Our calculations show that Mettler-Toledo International Inc. (NYSE:MTD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Mettler-Toledo International Inc. (NYSE:MTD) was in 34 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 31 funds in the previous quarter. Mettler-Toledo International Inc. (NYSE:MTD) delivered a -12.90% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Mettler-Toledo International Inc. (NYSE:MTD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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