1,505,000 Shares in Medline $MDLN Bought by Eminence Capital LP

Eminence Capital LP purchased a new position in shares of Medline (NASDAQ:MDLN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,505,000 shares of the company’s stock, valued at approximately $63,210,000.

A number of other large investors have also added to or reduced their stakes in MDLN. Carlyle Group Inc. bought a new stake in Medline in the fourth quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in shares of Medline during the 4th quarter valued at approximately $4,179,591,000. Vanguard Group Inc. acquired a new stake in shares of Medline during the 4th quarter valued at approximately $793,278,000. Morgan Stanley bought a new position in Medline during the fourth quarter worth $636,807,000. Finally, Capital Research Global Investors acquired a new position in Medline in the fourth quarter worth $620,937,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDLN. Barclays decreased their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Medline in a report on Thursday, May 7th. BMO Capital Markets lifted their price objective on shares of Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Leerink Partners set a $56.00 target price on shares of Medline in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada raised their price target on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Insiders Place Their Bets

In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was bought at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider owned 5,000 shares of the company’s stock, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by insiders.

Medline Trading Down 1.8%

Shares of NASDAQ:MDLN opened at $36.42 on Thursday. The stock has a 50 day moving average of $40.33. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $47.84 billion and a price-to-earnings ratio of 113.81. Medline has a twelve month low of $32.81 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts forecast that Medline will post 1.49 EPS for the current year.

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.