Medline $MDLN Stock Purchased by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. raised its stake in Medline (NASDAQ:MDLN) by 115.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,808,153 shares of the company’s stock after acquiring an additional 967,587 shares during the period. Mawer Investment Management Ltd. owned 0.14% of Medline worth $62,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of Medline in the 3rd quarter valued at about $30,000. NewEdge Advisors LLC boosted its position in shares of Medline by 100.0% in the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after purchasing an additional 475 shares during the period. Allworth Financial LP boosted its position in shares of Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock valued at $41,000 after purchasing an additional 487 shares during the period. Finally, Assetmark Inc. purchased a new position in Medline during the 1st quarter worth approximately $62,000.

Medline Stock Performance

Shares of NASDAQ MDLN traded down $0.51 during midday trading on Friday, reaching $39.47. 8,433,866 shares of the company were exchanged, compared to its average volume of 10,899,395. The stock has a market cap of $51.89 billion and a P/E ratio of 89.71. Medline has a 1 year low of $31.37 and a 1 year high of $50.88. The stock has a fifty day simple moving average of $35.28 and a 200 day simple moving average of $39.37. The company has a current ratio of 4.04, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.32 by $0.12. Medline had a return on equity of 8.21% and a net margin of 1.84%. The firm had revenue of $7.86 billion during the quarter. On average, research analysts forecast that Medline will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Medline

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total value of $90,884,814.65. Following the transaction, the insider owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 6,348,676 shares of company stock valued at $224,525,137. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MDLN shares. Royal Bank Of Canada cut their price target on Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Citigroup increased their price objective on Medline from $45.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, November 5th. BMO Capital Markets restated an “outperform” rating and set a $47.00 target price on shares of Medline in a research report on Thursday, August 6th. Truist Financial lowered their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Evercore set a $39.00 target price on shares of Medline in a report on Thursday, August 6th. Twenty-three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Medline Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.