Squarepoint Ops LLC bought a new position in shares of Medline (NASDAQ:MDLN – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,900,000 shares of the company’s stock, valued at approximately $79,800,000. Squarepoint Ops LLC owned approximately 0.14% of Medline as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of MDLN. Perigon Wealth Management LLC bought a new position in Medline during the fourth quarter worth $211,000. SteelPeak Wealth LLC bought a new position in Medline during the fourth quarter worth $441,000. Sound Income Strategies LLC bought a new position in Medline during the fourth quarter worth $25,000. Massachusetts Financial Services Co. MA bought a new position in Medline during the fourth quarter worth $429,544,000. Finally, Baillie Gifford & Co. bought a new position in Medline during the fourth quarter worth $437,236,000.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Tigress Financial increased their target price on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $55.00 target price on shares of Medline in a research note on Wednesday, February 25th. Evercore reissued an “outperform” rating and set a $55.00 target price on shares of Medline in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued 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 an average price target of $50.54.
Medline Price Performance
Shares of MDLN stock opened at $37.33 on Tuesday. The firm has a 50-day moving average price of $40.62. The stock has a market capitalization of $49.04 billion and a P/E ratio of 116.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. Medline has a one year low of $32.81 and a one year high of $50.88.
Medline (NASDAQ:MDLN – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. Medline’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.
Insider Activity at Medline
In other news, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the acquisition, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.
About Medline
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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