525,000 Shares in Medline $MDLN Acquired by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC acquired a new position in shares of Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 525,000 shares of the company’s stock, valued at approximately $22,050,000. Medline accounts for approximately 0.5% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 21st largest position.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Medline during the 4th quarter worth approximately $25,000. Entrust Financial LLC acquired a new stake in Medline during the 4th quarter worth approximately $26,000. NBC Securities Inc. acquired a new stake in Medline during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in Medline during the 4th quarter worth approximately $31,000. Finally, North Star Investment Management Corp. acquired a new stake in Medline during the 4th quarter worth approximately $36,000.

Medline Trading Down 0.6%

MDLN stock opened at $37.09 on Wednesday. The stock has a market capitalization of $48.72 billion and a P/E ratio of 115.91. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The business’s 50-day moving average is $40.48. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65.

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

Wall Street Analyst Weigh In

MDLN has been the topic of a number of research reports. Citigroup reduced their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Leerink Partners set a $56.00 target price on shares of Medline in a report on Wednesday, February 25th. Barclays cut their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Insider Transactions at Medline

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.81% of the company’s stock.

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.