Sculptor Capital LP lowered its stake in Medline (NASDAQ:MDLN – Free Report) by 54.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,000 shares of the company’s stock after selling 270,000 shares during the quarter. Sculptor Capital LP’s holdings in Medline were worth $10,235,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its holdings in shares of Medline by 60.2% in the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after buying an additional 512 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Medline in the fourth quarter valued at approximately $25,000. Entrust Financial LLC purchased a new position in Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. purchased a new position in Medline during the fourth quarter valued at approximately $28,000. Finally, Whipplewood Advisors LLC bought a new stake in Medline during the 1st quarter worth approximately $30,000.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Sanford C. Bernstein lowered their target price on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a report on Thursday, May 7th. Tigress Financial lifted their price objective on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Citigroup reduced their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.54.
Medline Stock Performance
NASDAQ:MDLN opened at $38.75 on Monday. The company has a market capitalization of $50.91 billion and a price-to-earnings ratio of 121.09. The business has a 50 day moving average of $37.79 and a 200 day moving average of $41.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a 1-year low of $32.81 and a 1-year high of $50.88.
Medline (NASDAQ:MDLN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The company’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.81% of the stock is currently owned by corporate insiders.
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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