First American Bank Buys Shares of 57,459 Medline $MDLN

First American Bank purchased a new position in shares of Medline (NASDAQ:MDLN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 57,459 shares of the company’s stock, valued at approximately $2,557,000.

Several other institutional investors and hedge funds also recently modified their holdings of MDLN. Sound Income Strategies LLC bought a new stake in shares of Medline during the fourth quarter valued at about $25,000. Entrust Financial LLC acquired a new stake in Medline in the fourth quarter worth about $26,000. NBC Securities Inc. bought a new position in Medline in the 4th quarter valued at about $28,000. Global Retirement Partners LLC acquired a new position in Medline during the 4th quarter valued at about $31,000. Finally, North Star Investment Management Corp. acquired a new position in Medline during the 4th quarter valued at about $36,000.

Insider Buying and Selling

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of Medline 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 transaction, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was bought 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 of the company’s stock, valued at $170,750. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada raised their price objective on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Morgan Stanley boosted their target price on Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. BNP Paribas Exane cut their target price on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Trading Up 2.1%

Shares of NASDAQ MDLN opened at $36.05 on Thursday. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. 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 firm has a 50-day simple moving average of $39.37. The firm has a market cap of $47.35 billion and a P/E ratio of 112.64.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The business’s 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.

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.