Private Ltd Gic Sells 100,000 Shares of Medline (NASDAQ:MDLN) Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 100,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the completion of the sale, the insider directly owned 22,802,482 shares of the company’s stock, valued at approximately $816,328,855.60. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The shares were sold at an average price of $35.58, for a total transaction of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80.

Medline Trading Down 2.2%

MDLN opened at $34.12 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. Medline has a one year low of $32.81 and a one year high of $50.88. The company has a market cap of $44.86 billion and a P/E ratio of 43.19. The business’s 50-day simple moving average is $38.28 and its 200-day simple moving average is $41.21.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. As a group, equities research analysts expect that Medline will post 1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on MDLN shares. Evercore set a $39.00 target price on shares of Medline in a research report on Thursday, August 6th. Citigroup upgraded shares of Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $37.00 target price on Medline in a research report on Thursday, August 6th. Finally, Barclays decreased their target price on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Medline during the second quarter worth about $5,044,000. Bank of New York Mellon Corp acquired a new stake in Medline in the second quarter valued at about $40,430,000. E. Ohman J or Asset Management AB acquired a new stake in Medline in the second quarter valued at about $508,000. GAMMA Investing LLC boosted its holdings in Medline by 68.3% in the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after purchasing an additional 254 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Medline by 1,073.3% during the 1st quarter. Parallel Advisors LLC now owns 5,280 shares of the company’s stock worth $235,000 after purchasing an additional 4,830 shares during the period.

Key Headlines Impacting Medline

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline’s latest reported quarter showed adjusted earnings of $0.50 per share, well above the $0.32 consensus estimate, on approximately $7.7 billion in revenue. Analysts continue to maintain a generally favorable view, with the stock carrying a “Moderate Buy” consensus rating. Medline stock analysis
• Neutral Sentiment: Several research firms have recently reduced their price targets, including Wells Fargo to $34, JPMorgan to $46 and RBC to $46. However, JPMorgan and RBC retained bullish ratings, while the average analyst target remains substantially above the recent trading level at about $47.42. Medline analyst ratings
• Negative Sentiment: Major shareholder Private Ltd GIC reported several sales totaling millions of shares. The most recent disclosures covered 1.5 million shares sold for approximately $53.7 million on August 13 and another 100,000 shares sold for $3.58 million on August 14. Repeated large-holder selling can weigh on investor sentiment and increase perceived supply of the stock. GIC Medline share sale
• Negative Sentiment: Kessler Topaz Meltzer & Check and Kaplan Fox & Kilsheimer announced investigations into potential violations of federal securities laws involving Medline. The announcements are investor solicitations and do not establish wrongdoing, but they add legal uncertainty and may further pressure the stock. Medline securities investigation reminder

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.