Bessemer Group Inc. raised its holdings in Medline (NASDAQ:MDLN – Free Report) by 39,404.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,504,006 shares of the company’s stock after buying an additional 3,495,136 shares during the quarter. Bessemer Group Inc.’s holdings in Medline were worth $155,929,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MDLN. Sound Income Strategies LLC bought a new stake in shares of Medline in the 4th quarter worth 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 stake in shares of Medline during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new position in shares of Medline in the 1st quarter valued at $30,000. Finally, Global Retirement Partners LLC acquired a new position in Medline in the fourth quarter valued at about $31,000.
Insider Activity at Medline
In related news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the sale, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.
Medline Stock Up 4.2%
Medline (NASDAQ:MDLN – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. Medline’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts predict that Medline will post 1.49 EPS for the current fiscal year.
Wall Street Analyst Weigh In
MDLN has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Sanford C. Bernstein cut their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. BNP Paribas Exane dropped their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Barclays cut their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. Finally, Citigroup cut their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.54.
Get Our Latest Stock Report on MDLN
Medline Profile
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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