Readystate Asset Management LP acquired a new position in shares of Medline (NASDAQ:MDLN – Free Report) during the 1st quarter, Holdings Channel.com reports. The fund acquired 241,317 shares of the company’s stock, valued at approximately $10,739,000.
A number of other large investors have also modified their holdings of MDLN. Carlyle Group Inc. bought a new position in Medline in the fourth quarter worth $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in Medline in the 4th quarter valued at $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline in the 4th quarter valued at $793,278,000. Morgan Stanley bought a new position in shares of Medline during the 4th quarter worth about $636,807,000. Finally, Capital Research Global Investors acquired a new stake in shares of Medline during the 4th quarter valued at about $620,937,000.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on MDLN shares. William Blair reissued an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Sanford C. Bernstein decreased their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $55.00 price objective on shares of Medline in a research note on Thursday, May 7th. Tigress Financial increased their target price on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, BNP Paribas Exane cut their target price on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Medline has a consensus rating of “Moderate Buy” and an average target price of $50.54.
Insider Buying and Selling at Medline
In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the transaction, the insider owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction 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 owned 23,899 shares in the company, valued at $878,766.23. The trade was a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.81% of the company’s stock.
Medline Trading Up 2.0%
Shares of MDLN stock opened at $40.51 on Wednesday. The company has a market capitalization of $53.22 billion and a P/E ratio of 126.59. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $37.92 and a 200 day moving average price of $41.94.
Medline (NASDAQ:MDLN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. Medline’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.
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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