SteelPeak Wealth LLC purchased a new stake in Medline (NASDAQ:MDLN – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,495 shares of the company’s stock, valued at approximately $572,000.
A number of other institutional investors have also recently bought and sold shares of MDLN. GAMMA Investing LLC lifted its stake in Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after buying an additional 254 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Medline in the first quarter worth approximately $30,000. NewEdge Advisors LLC increased its position in shares of Medline by 100.0% in the second quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock worth $37,000 after acquiring an additional 475 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Medline by 86.2% during the second quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock valued at $41,000 after acquiring an additional 487 shares during the period. Finally, Whittier Trust Co. purchased a new stake in shares of Medline in the 1st quarter valued at approximately $49,000.
Insider Transactions at Medline
In related news, major shareholder Private Ltd Gic sold 2,088,987 shares of Medline stock in a transaction on Tuesday, October 6th. The stock was 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 owned 16,453,806 shares of the company’s stock, valued at approximately $576,705,900.30. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 10,787,572 shares of company stock worth $382,784,591 over the last ninety days. 0.81% of the stock is currently owned by company insiders.
Medline Trading Down 2.1%
MDLN stock opened at $35.19 on Tuesday. The company has a 50 day moving average of $34.74 and a two-hundred day moving average of $38.11. Medline has a 12-month low of $31.49 and a 12-month high of $50.88. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66.
Medline (NASDAQ:MDLN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. As a group, research analysts predict that Medline will post 1.51 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MDLN shares. BMO Capital Markets reiterated an “outperform” rating and set a $47.00 price objective on shares of Medline in a research report on Thursday, August 6th. Citigroup upgraded Medline to a “strong-buy” rating in a report on Wednesday, August 5th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Wednesday, September 23rd. Weiss Ratings downgraded Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Finally, TD Cowen dropped their price target on Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.81.
View Our Latest Research Report on Medline
Medline Profile
Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.
Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.
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