Teachers Retirement System of The State of Kentucky Acquires 91,300 Shares of Medline $MDLN

Teachers Retirement System of The State of Kentucky grew its holdings in shares of Medline (NASDAQ:MDLN) by 138.5% in the first quarter, Holdings Channel reports. The institutional investor owned 157,200 shares of the company’s stock after acquiring an additional 91,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Medline were worth $6,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sound Income Strategies LLC acquired a new stake in shares of Medline in the 4th quarter worth about $25,000. Entrust Financial LLC acquired a new position in Medline during the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in Medline during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new stake in Medline during the 1st quarter worth approximately $30,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Medline in the fourth quarter worth approximately $31,000.

Insiders Place Their Bets

In related news, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MDLN shares. Tigress Financial raised their target price on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. William Blair reissued an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Robert W. Baird dropped their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Citigroup cut their price objective 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. Finally, BNP Paribas Exane reduced their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. One 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. According to data from MarketBeat.com, Medline currently has an average rating of “Moderate Buy” and an average price target of $50.54.

Medline Price Performance

Shares of NASDAQ MDLN opened at $40.58 on Tuesday. The company has a market capitalization of $53.31 billion and a PE ratio of 126.81. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $37.99 and its 200-day moving average price is $42.15. Medline has a twelve month low of $32.81 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’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 EPS for the current year.

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.