Medline (NASDAQ:MDLN – Get Free Report) major shareholder Private Ltd Gic sold 2,088,987 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the completion of the sale, the insider directly owned 16,453,806 shares of the company’s stock, valued at $576,705,900.30. This trade represents a 11.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Private Ltd Gic also recently made the following trade(s):
- On Friday, October 2nd, Private Ltd Gic sold 2,570,999 shares of Medline stock. The shares were sold at an average price of $35.35, for a total transaction of $90,884,814.65.
- On Tuesday, October 6th, Private Ltd Gic sold 7,183,013 shares of Medline stock. The shares were sold at an average price of $35.05, for a total transaction of $251,764,605.65.
- On Monday, October 5th, Private Ltd Gic sold 1,688,690 shares of Medline stock. The shares were sold at an average price of $35.78, for a total transaction of $60,421,328.20.
- On Friday, October 2nd, Private Ltd Gic sold 7,146,941 shares of Medline stock. The stock was sold at an average price of $34.33, for a total transaction of $245,354,484.53.
- On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $3,580,000.00.
- On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total transaction of $53,700,000.00.
- On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The stock was sold at an average price of $35.58, for a total value of $21,002,304.72.
- On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02.
- On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The stock was sold at an average price of $35.60, for a total transaction of $70,367,600.80.
Medline Stock Up 0.8%
MDLN stock opened at $35.74 on Friday. The firm has a market cap of $46.99 billion and a price-to-earnings ratio of 45.24. Medline has a 1-year low of $31.49 and a 1-year high of $50.88. The firm has a fifty day moving average price of $34.95 and a two-hundred day moving average price of $38.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61.
Institutional Trading of Medline
A number of institutional investors have recently made changes to their positions in MDLN. Versant Capital Management Inc boosted its holdings in shares of Medline by 1,864.5% in the third quarter. Versant Capital Management Inc now owns 2,102 shares of the company’s stock valued at $73,000 after acquiring an additional 1,995 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Medline by 20.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,705 shares of the company’s stock worth $501,000 after purchasing an additional 2,149 shares during the period. Andra AP fonden acquired a new stake in Medline in the second quarter worth approximately $3,180,000. Core Capital Management & Research inc. bought a new position in Medline during the 2nd quarter valued at $96,000. Finally, Tidal Investments LLC acquired a new position in shares of Medline during the 2nd quarter valued at $334,000.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on Medline in a research report on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $47.00 target price on shares of Medline in a research note on Thursday, August 6th. Robert W. Baird set a $42.00 price target on shares of Medline in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Finally, Citigroup raised shares of Medline to a “strong-buy” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.88.
Read Our Latest Research Report on MDLN
Medline Company Profile
Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.
The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.
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