Geode Capital Management LLC Purchases New Shares in Medline $MDLN

Geode Capital Management LLC purchased a new stake in Medline (NASDAQ:MDLN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,949,380 shares of the company’s stock, valued at approximately $123,923,000.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in Medline in the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new position in Medline in the 4th quarter valued at $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the 4th quarter valued at $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline during the 4th quarter valued at $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Medline during the 4th quarter valued at $36,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDLN. JPMorgan Chase & Co. upped their target price on Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Wells Fargo & Company upped their target price on Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Robert W. Baird cut their target price on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank Of Canada upped their price objective on Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, BMO Capital Markets upped their price objective on Medline from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medline presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Stock Down 2.4%

Shares of MDLN stock opened at $33.61 on Friday. The company has a 50-day moving average of $41.45. Medline has a 1-year low of $32.81 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 for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that Medline will post 1.51 earnings per share for the current year.

Medline Company 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.