DNB Asset Management AS Takes $4.52 Million Position in Medline $MDLN

DNB Asset Management AS purchased a new stake in shares of Medline (NASDAQ:MDLN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 107,578 shares of the company’s stock, valued at approximately $4,517,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MDLN. Sound Income Strategies LLC acquired a new position in shares of Medline during the 4th quarter valued at about $25,000. NBC Securities Inc. acquired a new position in shares of Medline during the 4th quarter valued at about $28,000. North Star Investment Management Corp. acquired a new position in shares of Medline during the 4th quarter valued at about $36,000. WPG Advisers LLC acquired a new position in shares of Medline during the 4th quarter valued at about $38,000. Finally, Tsfg LLC purchased a new stake in Medline in the 4th quarter valued at about $53,000.

Medline Stock Performance

Shares of NASDAQ:MDLN opened at $37.70 on Wednesday. The stock’s 50-day simple moving average is $43.19. Medline has a 1 year low of $34.89 and a 1 year high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that Medline will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MDLN shares. BNP Paribas Exane reduced their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on shares of Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. BTIG Research restated a “buy” rating and issued a $55.00 price objective on shares of Medline in a report on Thursday, May 7th. Tigress Financial boosted their price objective on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

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.