Clio Asset Management LLC Invests $4.06 Million in Medline $MDLN

Clio Asset Management LLC purchased a new position in Medline (NASDAQ:MDLN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 91,159 shares of the company’s stock, valued at approximately $4,057,000. Medline makes up about 3.4% of Clio Asset Management LLC’s investment portfolio, making the stock its 12th largest holding.

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

Insiders Place Their Bets

In other news, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. This represents a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MDLN shares. William Blair restated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Sanford C. Bernstein lowered their target price on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research report on Thursday, May 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Medline in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.54.

Medline Trading Up 4.8%

Shares of Medline stock opened at $37.77 on Friday. The firm has a market cap of $49.62 billion and a PE ratio of 118.03. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The business’s 50 day moving average is $39.17.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts predict that Medline will post 1.49 earnings per share for the current year.

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.