MFF Capital Investments Ltd acquired a new stake in Medline (NASDAQ:MDLN – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $3,470,000. Medline accounts for about 0.2% of MFF Capital Investments Ltd’s investment portfolio, making the stock its 22nd largest holding.
Several other hedge funds also recently added to or reduced their stakes in the company. Montaka Global Pty Ltd bought a new position in shares of Medline during the third quarter valued at approximately $3,123,000. Fulcrum Asset Management LLP bought a new stake in shares of Medline during the 3rd quarter worth approximately $445,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Medline by 30,255.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock worth $94,353,000 after acquiring an additional 2,691,529 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Medline by 21.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 215,114 shares of the company’s stock valued at $7,464,000 after acquiring an additional 37,928 shares during the period. Finally, Covestor Ltd boosted its holdings in Medline by 31.8% during the 3rd quarter. Covestor Ltd now owns 1,953 shares of the company’s stock valued at $68,000 after acquiring an additional 471 shares during the period.
Analyst Ratings Changes
Several research firms recently commented on MDLN. Bank of America reduced their price target on shares of Medline from $53.00 to $46.00 in a research note on Thursday, August 6th. Stifel Nicolaus lowered their price objective on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Tigress Financial reduced their target price on shares of Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Truist Financial reduced their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Twenty-three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.08.
Read Our Latest Stock Report on Medline
Medline Stock Up 0.5%
MDLN stock opened at $40.91 on Wednesday. The stock has a market capitalization of $53.78 billion and a PE ratio of 92.98. Medline has a 52 week low of $31.37 and a 52 week high of $50.88. The company has a quick ratio of 2.51, a current ratio of 4.04 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $35.01 and a 200 day moving average of $39.45.
Medline (NASDAQ:MDLN – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.12. The business had revenue of $7.86 billion for the quarter. Medline had a return on equity of 8.21% and a net margin of 1.84%. Sell-side analysts forecast that Medline will post 1.50 earnings per share for the current year.
Insiders Place Their Bets
In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the transaction, the insider directly owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 7,948,676 shares of company stock valued at $281,805,137. 0.81% of the stock is currently owned by corporate insiders.
Medline Profile
Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.
Featured Articles
- Five stocks we like better than Medline
- Why Kinder Morgan’s Chairman Just Bought $15 Million in Stock
- Rocket Lab’s Record Backlog Could Fuel a Rebound, But Neutron Raises the Stakes
- Don’t Let Their Low Yields Fool You: 3 Dividend Stocks Worth Watching
- A $4 Billion Jolt: NRG Energy Powers Data Center Ambitions
Want to see what other hedge funds are holding MDLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medline (NASDAQ:MDLN – Free Report).
Receive News & Ratings for Medline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medline and related companies with MarketBeat.com's FREE daily email newsletter.
