Medline (NASDAQ:MDLN – Get Free Report) major shareholder Private Ltd Gic sold 1,688,690 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $35.78, for a total value of $60,421,328.20. Following the transaction, the insider directly owned 18,542,793 shares in the company, valued at approximately $663,461,133.54. The trade was a 8.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Private Ltd Gic also recently made the following trade(s):
- On Tuesday, October 6th, Private Ltd Gic sold 7,183,013 shares of Medline stock. The shares were sold at an average price of $35.05, for a total value of $251,764,605.65.
- On Tuesday, October 6th, Private Ltd Gic sold 2,088,987 shares of Medline stock. The shares were sold at an average price of $35.05, for a total value of $73,218,994.35.
- On Friday, October 2nd, Private Ltd Gic sold 7,146,941 shares of Medline stock. The stock was sold at an average price of $34.33, for a total value of $245,354,484.53.
- On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $3,580,000.00.
- On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total value of $53,700,000.00.
- On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The shares were sold at an average price of $35.58, for a total value of $21,002,304.72.
- On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total transaction of $9,609,548.02.
- On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80.
Medline Stock Performance
MDLN stock traded down $0.25 on Tuesday, hitting $35.55. The company’s stock had a trading volume of 8,878,494 shares, compared to its average volume of 9,394,258. The stock has a market cap of $46.74 billion and a price-to-earnings ratio of 45.00. The firm has a 50 day moving average of $35.11 and a two-hundred day moving average of $38.55. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 1 year low of $31.49 and a 1 year high of $50.88.
Hedge Funds Weigh In On Medline
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in Medline by 1,864.5% during the third quarter. Versant Capital Management Inc now owns 2,102 shares of the company’s stock worth $73,000 after buying an additional 1,995 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Medline by 20.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,705 shares of the company’s stock valued at $501,000 after buying an additional 2,149 shares in the last quarter. Andra AP fonden acquired a new position in shares of Medline during the 2nd quarter worth $3,180,000. Core Capital Management & Research inc. purchased a new stake in shares of Medline in the 2nd quarter worth about $96,000. Finally, Tidal Investments LLC acquired a new stake in Medline in the 2nd quarter valued at about $334,000.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on MDLN shares. Wells Fargo & Company decreased their price target on Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Truist Financial reduced their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Tigress Financial lowered their target price on shares of Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. William Blair reiterated an “outperform” rating on shares of Medline in a research note on Wednesday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price objective on shares of Medline in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.88.
View Our Latest Stock Report on MDLN
Medline Company Profile
Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.
The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.
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