Saudi Central Bank bought a new stake in Medline (NASDAQ:MDLN – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,860 shares of the company’s stock, valued at approximately $1,020,000.
Several other large investors have also recently bought and sold shares of the stock. Entrust Financial LLC bought a new position in Medline in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in shares of Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Medline in the 1st quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new position in shares of Medline in the fourth quarter valued at $31,000. Finally, Whittier Trust Co. acquired a new position in Medline during the first quarter worth $49,000.
Insider Activity at Medline
In other news, major shareholder Private Ltd Gic sold 100,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the sale, the insider directly owned 22,802,482 shares of the company’s stock, valued at approximately $816,328,855.60. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 4,538,896 shares of company stock valued at $161,936,454. 0.81% of the stock is currently owned by corporate insiders.
Medline Stock Down 1.8%
Medline (NASDAQ:MDLN – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. On average, equities analysts expect that Medline will post 1.51 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Evercore set a $39.00 target price on shares of Medline in a research note on Thursday, August 6th. BMO Capital Markets reissued an “outperform” rating and set a $47.00 price target on shares of Medline in a research report on Thursday, August 6th. Truist Financial cut their price objective on Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Tigress Financial dropped their price target on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.42.
View Our Latest Research Report on MDLN
About Medline
Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.
The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.
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