Sculptor Capital LP bought a new stake in Medline (NASDAQ:MDLN – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 500,000 shares of the company’s stock, valued at approximately $21,000,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDLN. Sound Income Strategies LLC bought a new position in Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in Medline in the fourth quarter valued at about $26,000. NBC Securities Inc. bought a new position in Medline in the fourth quarter valued at about $28,000. Global Retirement Partners LLC bought a new position in Medline in the fourth quarter valued at about $31,000. Finally, North Star Investment Management Corp. bought a new position in Medline in the fourth quarter valued at about $36,000.
Insider Transactions at Medline
In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.
Medline Price Performance
Medline (NASDAQ:MDLN – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The firm’s revenue was up 10.7% on a year-over-year basis. Equities analysts anticipate that Medline will post 1.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have issued reports on MDLN shares. Barclays decreased their target price on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, June 1st. William Blair restated an “outperform” rating on shares of Medline in a report on Thursday, June 4th. UBS Group boosted their price target on Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Sanford C. Bernstein reduced their price target on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $55.00 price target on Medline in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.54.
Check Out Our Latest Research Report on MDLN
About Medline
Medline (NASDAQ: MDLN) is a healthcare products and services company that manufactures, sources and distributes a wide range of medical supplies and equipment for healthcare providers. Its product portfolio spans clinical consumables and personal protective equipment, surgical and procedural supplies, wound care and incontinence products, diagnostic and laboratory supplies, and select durable medical equipment. Medline supports care settings that include hospitals, health systems, long-term care facilities, ambulatory clinics and home health providers.
In addition to product manufacturing and distribution, Medline provides supply‑chain and logistics services designed to help healthcare customers manage inventory, reduce costs and streamline operations.
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