Public Employees Retirement System of Ohio Acquires Shares of 94,336 Medline $MDLN

Public Employees Retirement System of Ohio acquired a new stake in Medline (NASDAQ:MDLN) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 94,336 shares of the company’s stock, valued at approximately $4,198,000.

Several other large investors have also made changes to their positions in the business. North Star Investment Management Corp. grew its stake in Medline by 60.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock valued at $61,000 after acquiring an additional 512 shares during the period. Sound Income Strategies LLC purchased a new stake in Medline in the 4th quarter worth $25,000. Entrust Financial LLC acquired a new position in Medline during the fourth quarter worth $26,000. NBC Securities Inc. purchased a new position in Medline during the fourth quarter valued at $28,000. Finally, Whipplewood Advisors LLC purchased a new position in Medline during the first quarter valued at $30,000.

Insider Buying and Selling

In related news, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Medline Price Performance

Shares of NASDAQ MDLN opened at $40.08 on Thursday. The firm has a 50-day simple moving average of $38.00 and a 200-day simple moving average of $41.94. 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 has a market capitalization of $52.65 billion and a price-to-earnings ratio of 125.25. Medline has a 52 week low of $32.81 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Robert W. Baird cut their target price on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 23rd. Tigress Financial lifted their price objective on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Sanford C. Bernstein cut their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

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.