Medline $MDLN Shares Sold by Siren L.L.C.

Siren L.L.C. reduced its holdings in Medline (NASDAQ:MDLN) by 66.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after selling 50,000 shares during the period. Siren L.L.C.’s holdings in Medline were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

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

Medline Trading Up 1.2%

Shares of Medline stock opened at $37.63 on Friday. The stock has a 50 day moving average of $37.74 and a 200 day moving average of $41.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The firm has a market capitalization of $49.43 billion and a price-to-earnings ratio of 117.59. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88.

Medline (NASDAQ:MDLN) last posted its 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 during the quarter. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that Medline will post 1.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MDLN shares. BTIG Research restated a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. Weiss Ratings lowered Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Sanford C. Bernstein lowered their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Citigroup dropped their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, BNP Paribas Exane cut their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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 acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by company insiders.

Medline 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.