Monashee Investment Management LLC purchased a new stake in Medline (NASDAQ:MDLN – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 300,000 shares of the company’s stock, valued at approximately $12,600,000. Medline makes up 7.1% of Monashee Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding.
Several other hedge funds also recently made changes to their positions in MDLN. Sound Income Strategies LLC purchased a new position in shares of Medline in the fourth quarter valued at $25,000. Entrust Financial LLC purchased a new position in Medline during the fourth quarter worth about $26,000. NBC Securities Inc. purchased a new position in Medline during the fourth quarter worth about $28,000. Global Retirement Partners LLC purchased a new position in Medline during the fourth quarter worth about $31,000. Finally, North Star Investment Management Corp. purchased a new position in Medline during the fourth quarter worth about $36,000.
Medline Stock Up 1.6%
Shares of MDLN stock opened at $37.13 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The business’s 50-day moving average price is $40.91. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The company has a market capitalization of $48.78 billion and a price-to-earnings ratio of 116.03.
Insider Transactions at Medline
In other news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider directly owned 5,000 shares in the company, valued at approximately $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 this link. 0.81% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Weiss Ratings cut Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Morgan Stanley boosted their target price on Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Tigress Financial boosted their target price on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. BNP Paribas Exane reduced 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. Finally, William Blair restated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.54.
View Our Latest Stock Analysis on Medline
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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