Stephens Inc. AR Invests $3.83 Million in Medline $MDLN

Stephens Inc. AR acquired a new stake in Medline (NASDAQ:MDLN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 86,180 shares of the company’s stock, valued at approximately $3,835,000.

Other large investors also recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new position in shares of Medline during the fourth quarter worth about $211,000. SteelPeak Wealth LLC purchased a new position in Medline in the fourth quarter worth approximately $441,000. Sound Income Strategies LLC acquired a new position in Medline during the 4th quarter worth approximately $25,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Medline in the 4th quarter valued at approximately $429,544,000. Finally, Baillie Gifford & Co. purchased a new stake in shares of Medline in the 4th quarter valued at approximately $437,236,000.

Medline Stock Down 6.3%

MDLN opened at $40.30 on Thursday. The stock has a market capitalization of $52.94 billion and a P/E ratio of 125.94. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The business has a 50 day simple moving average of $38.18 and a 200-day simple moving average of $42.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51.

Medline (NASDAQ:MDLN) last released its quarterly earnings data 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 firm had revenue of $7.35 billion during the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDLN shares. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. BNP Paribas Exane cut 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. Tigress Financial boosted their price target on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Citigroup reduced their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Medline presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

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.